MFS High Yield Municipal Trust (NYSE:CMU) Short Interest Update

MFS High Yield Municipal Trust (NYSE:CMU) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 7,600 shares, a decrease of 24.8% from the June 15th total of 10,100 shares. Based on an average daily trading volume, of 50,000 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On MFS High Yield Municipal Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Simplicity Wealth LLC acquired a new stake in shares of MFS High Yield Municipal Trust in the 2nd quarter valued at about $46,000. Robinson Capital Management LLC raised its stake in shares of MFS High Yield Municipal Trust by 2.0% in the 1st quarter. Robinson Capital Management LLC now owns 192,160 shares of the company’s stock valued at $626,000 after purchasing an additional 3,822 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in shares of MFS High Yield Municipal Trust in the 1st quarter valued at about $35,000. Novak & Powell Financial Services Inc. acquired a new stake in shares of MFS High Yield Municipal Trust in the 4th quarter valued at about $91,000. Finally, City of London Investment Management Co. Ltd. raised its stake in shares of MFS High Yield Municipal Trust by 39.1% in the 4th quarter. City of London Investment Management Co. Ltd. now owns 986,236 shares of the company’s stock valued at $3,264,000 after purchasing an additional 277,145 shares in the last quarter. 32.39% of the stock is owned by hedge funds and other institutional investors.

MFS High Yield Municipal Trust Price Performance

NYSE:CMU remained flat at $3.52 on Monday. 16,603 shares of the company’s stock were exchanged, compared to its average volume of 58,057. The stock’s 50-day moving average price is $3.37 and its 200-day moving average price is $3.32. MFS High Yield Municipal Trust has a one year low of $2.78 and a one year high of $3.53.

MFS High Yield Municipal Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th will be given a $0.0145 dividend. This is a boost 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 yield of 4.94%. The ex-dividend date is Tuesday, July 16th.

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.