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 significant growth in short interest in September. As of September 15th, there was short interest totalling 22,200 shares, a growth of 24.0% from the August 31st total of 17,900 shares. Based on an average trading volume of 15,800 shares, the days-to-cover ratio is currently 1.4 days.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Bulldog Investors LLP increased its holdings in shares of MFS Investment Grade Municipal Trust by 28.7% in the 4th quarter. Bulldog Investors LLP now owns 389,857 shares of the company’s stock worth $2,951,000 after purchasing an additional 86,927 shares in the last quarter. Melfa Wealth Management Inc. increased its holdings in MFS Investment Grade Municipal Trust by 17.4% in the 2nd quarter. Melfa Wealth Management Inc. now owns 78,360 shares of the company’s stock worth $619,000 after buying an additional 11,630 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in MFS Investment Grade Municipal Trust in the 2nd quarter worth about $236,000. Rothschild Investment LLC bought a new position in MFS Investment Grade Municipal Trust during the 2nd quarter valued at about $377,000. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in shares of MFS Investment Grade Municipal Trust by 233.0% during the 2nd 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 during the last quarter.

MFS Investment Grade Municipal Trust Trading Up 0.2 %

Shares of MFS Investment Grade Municipal Trust stock opened at $8.19 on Monday. MFS Investment Grade Municipal Trust has a 1 year low of $6.41 and a 1 year high of $8.28. The firm’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 declared a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.0265 per share. This is a boost from MFS Investment Grade Municipal Trust’s previous monthly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.88%.

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.