MFS Investment Grade Municipal Trust (NYSE:CXH) Short Interest Up 56.6% in March

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 22,400 shares, a growth of 56.6% from the February 28th total of 14,300 shares. Based on an average daily volume of 16,000 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.3% of the company’s shares are short sold.

MFS Investment Grade Municipal Trust Stock Up 0.6 %

Shares of MFS Investment Grade Municipal Trust stock traded up $0.05 on Monday, hitting $7.91. 4,938 shares of the company’s stock traded hands, compared to its average volume of 17,665. The company has a fifty day moving average of $8.04 and a two-hundred day moving average of $8.09. MFS Investment Grade Municipal Trust has a one year low of $7.30 and a one year high of $8.36.

MFS Investment Grade Municipal Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.0275 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 4.17%. This is a boost from MFS Investment Grade Municipal Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, March 18th.

Institutional Trading of MFS Investment Grade Municipal Trust

Large investors have recently modified their holdings of the stock. Rivernorth Capital Management LLC increased its stake in MFS Investment Grade Municipal Trust by 17.7% in the third quarter. Rivernorth Capital Management LLC now owns 402,574 shares of the company’s stock valued at $3,309,000 after purchasing an additional 60,569 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of MFS Investment Grade Municipal Trust by 45.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 158,542 shares of the company’s stock valued at $1,267,000 after buying an additional 49,420 shares during the period. Bank of New York Mellon Corp increased its position in MFS Investment Grade Municipal Trust by 41.0% in the 4th quarter. Bank of New York Mellon Corp now owns 69,402 shares of the company’s stock valued at $555,000 after buying an additional 20,186 shares in the last quarter. Noble Wealth Management PBC acquired a new position in MFS Investment Grade Municipal Trust during the 4th quarter worth approximately $53,000. Finally, Raymond James Financial Inc. acquired a new position in MFS Investment Grade Municipal Trust during the 4th quarter worth approximately $230,000.

MFS Investment Grade Municipal Trust Company Profile

MFS Investment Grade Municipal is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets of the United States. It primarily invests in tax-exempt bonds and tax-exempt notes. The fund benchmarks the performance of its portfolio against Barclays Municipal Bond Index.