Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Rises By 5.1%

MFS Investment Grade Municipal Trust (NYSE:CXH) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 31,200 shares, a growth of 5.1% from the January 15th total of 29,700 shares. Based on an average daily trading volume, of 19,500 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Bulldog Investors LLP raised its position in MFS Investment Grade Municipal Trust by 58.2% in the fourth quarter. Bulldog Investors LLP now owns 710,459 shares of the company’s stock valued at $5,679,000 after purchasing an additional 261,451 shares during the period. Sit Investment Associates Inc. raised its position in 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 valued at $4,479,000 after purchasing an additional 187,786 shares during the period. Rivernorth Capital Management LLC raised its position in MFS Investment Grade Municipal Trust by 17.7% in the third quarter. Rivernorth Capital Management LLC now owns 402,574 shares of the company’s stock valued at $3,309,000 after purchasing an additional 60,569 shares during the period. Icon Advisers Inc. Co. increased its position in shares of MFS Investment Grade Municipal Trust by 3.3% during the fourth quarter. Icon Advisers Inc. Co. now owns 244,295 shares of the company’s stock worth $1,952,000 after acquiring an additional 7,777 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of MFS Investment Grade Municipal Trust by 45.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 158,542 shares of the company’s stock worth $1,267,000 after acquiring an additional 49,420 shares during the last quarter.

MFS Investment Grade Municipal Trust Trading Down 0.6 %

Shares of CXH traded down $0.05 during trading hours on Tuesday, hitting $8.03. The stock had a trading volume of 16,309 shares, compared to its average volume of 16,268. The company’s fifty day simple moving average is $8.02 and its 200 day simple moving average is $8.10. MFS Investment Grade Municipal Trust has a 12-month low of $7.30 and a 12-month high of $8.36.

MFS Investment Grade Municipal Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be given a $0.0265 dividend. This represents a $0.32 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Tuesday, February 18th.

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.