MFS Investment Grade Municipal Trust (NYSE:CXH) Sees Large Decline in Short Interest

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MFS Investment Grade Municipal Trust (NYSE:CXHGet Rating) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 2,700 shares, a decline of 35.7% from the March 31st total of 4,200 shares. Based on an average trading volume of 24,200 shares, the short-interest ratio is presently 0.1 days.

Shares of NYSE:CXH traded down $0.02 during trading on Friday, reaching $7.88. The stock had a trading volume of 26,751 shares, compared to its average volume of 26,826. The firm has a 50-day simple moving average of $8.47. MFS Investment Grade Municipal Trust has a 52 week low of $7.77 and a 52 week high of $10.74.

The business also recently disclosed a monthly dividend, which was paid on Friday, April 29th. Investors of record on Wednesday, April 20th were given a $0.029 dividend. This represents a $0.35 annualized dividend and a yield of 4.42%. The ex-dividend date was Tuesday, April 19th.

A number of hedge funds have recently bought and sold shares of the stock. Americana Partners LLC raised its position in MFS Investment Grade Municipal Trust by 9.7% in the 4th quarter. Americana Partners LLC now owns 141,530 shares of the company’s stock worth $1,459,000 after purchasing an additional 12,500 shares during the last quarter. UBS Group AG raised its position in MFS Investment Grade Municipal Trust by 5.2% in the 3rd quarter. UBS Group AG now owns 131,482 shares of the company’s stock worth $1,315,000 after purchasing an additional 6,552 shares during the last quarter. Wells Fargo & Company MN raised its position in MFS Investment Grade Municipal Trust by 10.1% in the 4th quarter. Wells Fargo & Company MN now owns 86,773 shares of the company’s stock worth $894,000 after purchasing an additional 7,995 shares during the last quarter. Morgan Stanley raised its position in MFS Investment Grade Municipal Trust by 6.9% in the 3rd quarter. Morgan Stanley now owns 82,616 shares of the company’s stock worth $826,000 after purchasing an additional 5,311 shares during the last quarter. Finally, LPL Financial LLC raised its position in MFS Investment Grade Municipal Trust by 53.6% in the 4th quarter. LPL Financial LLC now owns 73,364 shares of the company’s stock worth $756,000 after purchasing an additional 25,616 shares during the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

About MFS Investment Grade Municipal Trust (Get Rating)

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.

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