MFS High Yield Municipal Trust (NYSE:CMU) Sees Significant Growth in Short Interest

MFS High Yield Municipal Trust (NYSE:CMU) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 46,100 shares, an increase of 347.6% from the October 15th total of 10,300 shares. Based on an average trading volume of 51,600 shares, the short-interest ratio is currently 0.9 days.

MFS High Yield Municipal Trust Trading Down 0.7 %

Shares of CMU traded down $0.03 during mid-day trading on Tuesday, reaching $3.53. The company’s stock had a trading volume of 73,880 shares, compared to its average volume of 54,408. The company’s 50 day moving average is $3.61 and its 200 day moving average is $3.49. MFS High Yield Municipal Trust has a 12-month low of $2.96 and a 12-month high of $3.70.

MFS High Yield Municipal Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.0145 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.17 annualized dividend and a yield of 4.93%.

Institutional Investors Weigh In On MFS High Yield Municipal Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMU. Robinson Capital Management LLC boosted its stake in shares of MFS High Yield Municipal Trust by 2.0% during the 1st quarter. Robinson Capital Management LLC now owns 192,160 shares of the company’s stock worth $626,000 after acquiring an additional 3,822 shares in the last quarter. Almitas Capital LLC boosted its holdings in MFS High Yield Municipal Trust by 5.5% during the second quarter. Almitas Capital LLC now owns 91,488 shares of the company’s stock valued at $314,000 after purchasing an additional 4,759 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of MFS High Yield Municipal Trust in the 2nd quarter worth approximately $42,000. Simplicity Wealth LLC acquired a new position in shares of MFS High Yield Municipal Trust in the 2nd quarter worth approximately $46,000. Finally, Ackerman Capital Advisors LLC bought a new position in MFS High Yield Municipal Trust in the 3rd quarter worth approximately $70,000. 32.39% of the stock is currently owned by institutional investors and hedge funds.

MFS High Yield Municipal Trust Company Profile

MFS High Yield Municipal Trust 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.