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

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 22,400 shares, an increase of 56.6% from the February 28th total of 14,300 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 16,000 shares, the short-interest ratio is presently 1.4 days.

Institutional Trading of MFS Investment Grade Municipal Trust

Several large investors have recently added to or reduced their stakes in the company. Bulldog Investors LLP lifted its holdings in shares of MFS Investment Grade Municipal Trust by 58.2% during the fourth quarter. Bulldog Investors LLP now owns 710,459 shares of the company’s stock worth $5,679,000 after purchasing an additional 261,451 shares during the period. Icon Advisers Inc. Co. lifted its stake in MFS Investment Grade Municipal Trust by 3.3% during the 4th quarter. Icon Advisers Inc. Co. now owns 244,295 shares of the company’s stock valued at $1,952,000 after acquiring an additional 7,777 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of MFS Investment Grade Municipal Trust in the 4th quarter valued at $230,000. Sit Investment Associates Inc. increased its stake in shares of MFS Investment Grade Municipal Trust by 50.4% in the fourth quarter. Sit Investment Associates Inc. now owns 560,546 shares of the company’s stock worth $4,479,000 after acquiring an additional 187,786 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. raised its holdings in shares of MFS Investment Grade Municipal Trust by 36.5% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 97,088 shares of the company’s stock worth $776,000 after purchasing an additional 25,965 shares during the last quarter.

MFS Investment Grade Municipal Trust Trading Up 0.1 %

MFS Investment Grade Municipal Trust stock traded up $0.01 during mid-day trading on Friday, reaching $7.88. 5,237 shares of the company traded hands, compared to its average volume of 17,716. MFS Investment Grade Municipal Trust has a fifty-two week low of $7.30 and a fifty-two week high of $8.36. The firm’s fifty day moving average is $8.04 and its two-hundred day moving average is $8.09.

MFS Investment Grade Municipal Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $0.0275 dividend. This is a positive change from MFS Investment Grade Municipal Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, March 18th. This represents a $0.33 dividend on an annualized basis and a yield of 4.19%.

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.