MFS Investment Grade Municipal Trust (NYSE:CXH) Short Interest Down 10.1% in August

MFS Investment Grade Municipal Trust (NYSE:CXH) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 17,900 shares, a drop of 10.1% from the August 15th total of 19,900 shares. Based on an average trading volume of 14,900 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CXH. Bulldog Investors LLP boosted its holdings in shares of MFS Investment Grade Municipal Trust by 28.7% in the fourth quarter. Bulldog Investors LLP now owns 389,857 shares of the company’s stock valued at $2,951,000 after acquiring an additional 86,927 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of MFS Investment Grade Municipal Trust in the second quarter valued at about $377,000. Blue Bell Private Wealth Management LLC boosted its holdings in shares of 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. Graham Capital Wealth Management LLC purchased a new stake in shares of MFS Investment Grade Municipal Trust in the second quarter valued at about $521,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of MFS Investment Grade Municipal Trust in the second quarter valued at about $236,000.

MFS Investment Grade Municipal Trust Price Performance

NYSE:CXH remained flat at $8.21 during midday trading on Wednesday. 9,901 shares of the company traded hands, compared to its average volume of 19,720. The stock has a fifty day moving average of $8.07 and a two-hundred day moving average of $7.76. MFS Investment Grade Municipal Trust has a 12-month low of $6.41 and a 12-month high of $8.28.

MFS Investment Grade Municipal Trust Increases Dividend

The firm also recently disclosed 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. This is an increase from MFS Investment Grade Municipal Trust’s previous monthly dividend of $0.03. This represents a $0.32 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend is Tuesday, September 17th.

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.