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

MFS Investment Grade Municipal Trust (NYSE:CXH) was the target of a large growth in short interest during 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 short-interest ratio is currently 1.4 days. Approximately 0.3% of the company’s stock are short sold.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

Several large investors have recently bought and sold shares of CXH. Rivernorth Capital Management LLC grew its stake in shares of MFS Investment Grade Municipal Trust by 17.7% in the 3rd quarter. Rivernorth Capital Management LLC now owns 402,574 shares of the company’s stock worth $3,309,000 after acquiring an additional 60,569 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in 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 worth $1,267,000 after purchasing an additional 49,420 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 during the last quarter. Noble Wealth Management PBC bought a new position in shares of MFS Investment Grade Municipal Trust during the 4th quarter worth approximately $53,000. Finally, Raymond James Financial Inc. bought a new position in shares of MFS Investment Grade Municipal Trust during the 4th quarter worth approximately $230,000.

MFS Investment Grade Municipal Trust Stock Performance

CXH traded up $0.05 during midday trading on Monday, reaching $7.91. 4,938 shares of the company were exchanged, compared to its average volume of 17,665. MFS Investment Grade Municipal Trust has a one year low of $7.30 and a one year high of $8.36. The company’s fifty day moving average price is $8.04 and its 200 day moving average price is $8.09.

MFS Investment Grade Municipal Trust Increases Dividend

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

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.