MFS Investment Grade Municipal Trust (NYSE:CXH) Short Interest Up 24.0% in September

MFS Investment Grade Municipal Trust (NYSE:CXH) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 22,200 shares, an increase of 24.0% from the August 31st total of 17,900 shares. Based on an average daily trading volume, of 15,800 shares, the short-interest ratio is currently 1.4 days.

MFS Investment Grade Municipal Trust Stock Performance

NYSE CXH remained flat at $8.19 on Monday. 5,482 shares of the company’s stock were exchanged, compared to its average volume of 20,408. MFS Investment Grade Municipal Trust has a one year low of $6.41 and a one year high of $8.28. The stock’s 50 day moving average is $8.10 and its 200 day moving average is $7.79.

MFS Investment Grade Municipal Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.0265 per share. The ex-dividend date is Tuesday, September 17th. This is a positive change from MFS Investment Grade Municipal Trust’s previous monthly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a yield of 3.88%.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bulldog Investors LLP lifted its holdings in MFS Investment Grade Municipal Trust by 28.7% during the fourth quarter. Bulldog Investors LLP now owns 389,857 shares of the company’s stock worth $2,951,000 after buying an additional 86,927 shares during the period. Melfa Wealth Management Inc. lifted its stake in shares of MFS Investment Grade Municipal Trust by 17.4% during the 2nd quarter. Melfa Wealth Management Inc. now owns 78,360 shares of the company’s stock worth $619,000 after purchasing an additional 11,630 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in MFS Investment Grade Municipal Trust during the second quarter valued at about $236,000. Rothschild Investment LLC bought a new position in MFS Investment Grade Municipal Trust in the second quarter worth about $377,000. Finally, Blue Bell Private Wealth Management LLC boosted its stake in MFS Investment Grade Municipal Trust by 233.0% in the second quarter. Blue Bell Private Wealth Management LLC now owns 4,859 shares of the company’s stock valued at $38,000 after acquiring an additional 3,400 shares in the last quarter.

About MFS Investment Grade Municipal Trust

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.