MFS High Income Municipal Trust (NYSE:CXE) Short Interest Update

MFS High Income Municipal Trust (NYSE:CXE) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 61,100 shares, a decline of 5.6% from the May 15th total of 64,700 shares. Based on an average daily trading volume, of 56,300 shares, the days-to-cover ratio is presently 1.1 days.

MFS High Income Municipal Trust Trading Down 0.3 %

Shares of CXE stock opened at $3.70 on Tuesday. MFS High Income Municipal Trust has a 1 year low of $2.95 and a 1 year high of $3.76. The firm’s 50 day moving average is $3.57 and its 200-day moving average is $3.57.

MFS High Income Municipal Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 18th will be issued a dividend of $0.015 per share. This represents a $0.18 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Tuesday, June 18th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Almitas Capital LLC acquired a new stake in shares of MFS High Income Municipal Trust during the 3rd quarter worth approximately $1,081,000. Park Place Capital Corp bought a new stake in shares of MFS High Income Municipal Trust during the 4th quarter valued at $36,000. Raymond James & Associates raised its position in shares of MFS High Income Municipal Trust by 11.0% during the 4th quarter. Raymond James & Associates now owns 113,333 shares of the company’s stock valued at $402,000 after acquiring an additional 11,229 shares during the last quarter. Novak & Powell Financial Services Inc. acquired a new position in shares of MFS High Income Municipal Trust in the 4th quarter valued at $120,000. Finally, Saba Capital Management L.P. boosted its position in shares of MFS High Income Municipal Trust by 18.1% in the 3rd quarter. Saba Capital Management L.P. now owns 1,819,187 shares of the company’s stock worth $5,676,000 after purchasing an additional 278,981 shares during the last quarter. 34.37% of the stock is currently owned by institutional investors.

About MFS High Income Municipal Trust

MFS High Income Municipal Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in the fixed income markets. It primarily invests in municipal bonds and local general obligations of various sectors, such as multifamily, hospitals, care retirement, and investor-owned utilities.