MFS High Yield Municipal Trust (NYSE:CMU) Sees Large Increase in Short Interest

MFS High Yield Municipal Trust (NYSE:CMU) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 14,700 shares, an increase of 93.4% from the June 30th total of 7,600 shares. Based on an average daily volume of 49,900 shares, the short-interest ratio is presently 0.3 days.

MFS High Yield Municipal Trust Stock Performance

Shares of NYSE:CMU traded up $0.02 during midday trading on Friday, hitting $3.50. 41,901 shares of the stock were exchanged, compared to its average volume of 56,252. The business’s 50-day moving average price is $3.40 and its 200 day moving average price is $3.33. MFS High Yield Municipal Trust has a 12 month low of $2.78 and a 12 month high of $3.53.

MFS High Yield Municipal Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th will be paid a $0.0145 dividend. This is a positive change from MFS High Yield Municipal Trust’s previous monthly dividend of $0.01. This represents a $0.17 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Tuesday, July 16th.

Hedge Funds Weigh In On MFS High Yield Municipal Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Robinson Capital Management LLC lifted its stake in shares of MFS High Yield Municipal Trust by 2.0% in the first quarter. Robinson Capital Management LLC now owns 192,160 shares of the company’s stock worth $626,000 after acquiring an additional 3,822 shares during the period. Blue Bell Private Wealth Management LLC lifted its stake in shares of MFS High Yield Municipal Trust by 178.9% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 16,547 shares of the company’s stock worth $55,000 after acquiring an additional 10,615 shares during the period. Mesirow Financial Investment Management Inc. acquired a new position in shares of MFS High Yield Municipal Trust in the first quarter worth approximately $35,000. Simplicity Wealth LLC acquired a new position in MFS High Yield Municipal Trust in the second quarter valued at approximately $46,000. Finally, WMG Financial Advisors LLC acquired a new position in MFS High Yield Municipal Trust in the fourth quarter valued at approximately $66,000. 32.39% of the stock is owned by institutional investors and hedge funds.

About MFS High Yield Municipal Trust

MFS High Yield Municipal Trust 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.