Short Interest in MFS High Yield Municipal Trust (NYSE:CMU) Declines By 18.7%

MFS High Yield Municipal Trust (NYSE:CMU) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 232,400 shares, a drop of 18.7% from the February 13th total of 285,800 shares. Based on an average daily volume of 58,100 shares, the days-to-cover ratio is currently 4.0 days. Currently, 0.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in MFS High Yield Municipal Trust during the third quarter valued at approximately $37,000. Noble Wealth Management PBC bought a new stake in shares of MFS High Yield Municipal Trust during the 4th quarter worth about $71,000. Atria Wealth Solutions Inc. grew its holdings in MFS High Yield Municipal Trust by 82.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 36,835 shares of the company’s stock valued at $130,000 after purchasing an additional 16,633 shares during the last quarter. Raymond James Financial Inc. bought a new position in MFS High Yield Municipal Trust in the 4th quarter worth $166,000. Finally, Bank of New York Mellon Corp lifted its position in shares of MFS High Yield Municipal Trust by 13.8% during the 4th quarter. Bank of New York Mellon Corp now owns 217,416 shares of the company’s stock worth $765,000 after purchasing an additional 26,395 shares during the last quarter. 32.39% of the stock is owned by hedge funds and other institutional investors.

MFS High Yield Municipal Trust Price Performance

CMU traded up $0.02 on Thursday, hitting $3.54. 7,541 shares of the company’s stock were exchanged, compared to its average volume of 49,812. The stock has a fifty day moving average of $3.55 and a two-hundred day moving average of $3.58. MFS High Yield Municipal Trust has a twelve month low of $3.20 and a twelve month high of $3.70.

MFS High Yield Municipal Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.0145 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.17 dividend on an annualized basis and a dividend yield of 4.92%.

About MFS High Yield Municipal Trust

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.