MFS High Income Municipal Trust (NYSE:CXE) Short Interest Down 26.9% in March

MFS High Income Municipal Trust (NYSE:CXE) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 56,600 shares, a drop of 26.9% from the February 28th total of 77,400 shares. Based on an average daily trading volume, of 90,700 shares, the short-interest ratio is currently 0.6 days.

MFS High Income Municipal Trust Stock Performance

CXE stock opened at $3.68 on Friday. The company’s fifty day simple moving average is $3.75 and its 200 day simple moving average is $3.80. MFS High Income Municipal Trust has a 12-month low of $3.46 and a 12-month high of $4.03.

MFS High Income Municipal Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $0.016 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.19 annualized dividend and a dividend yield of 5.22%.

Institutional Investors Weigh In On MFS High Income Municipal Trust

Large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its stake in MFS High Income Municipal Trust by 30.5% in the third quarter. HighTower Advisors LLC now owns 19,138 shares of the company’s stock valued at $77,000 after purchasing an additional 4,468 shares in the last quarter. Whitebox Advisors LLC grew its stake in shares of MFS High Income Municipal Trust by 9.9% in the 3rd quarter. Whitebox Advisors LLC now owns 116,625 shares of the company’s stock valued at $467,000 after buying an additional 10,475 shares during the period. Melfa Wealth Management Inc. increased its position in MFS High Income Municipal Trust by 13.0% in the 4th quarter. Melfa Wealth Management Inc. now owns 150,188 shares of the company’s stock valued at $553,000 after buying an additional 17,295 shares in the last quarter. Noble Wealth Management PBC acquired a new position in MFS High Income Municipal Trust during the 4th quarter worth approximately $501,000. Finally, Raymond James Financial Inc. bought a new position in MFS High Income Municipal Trust in the fourth quarter worth approximately $321,000. Institutional investors and hedge funds own 34.37% of the company’s stock.

About MFS High Income Municipal Trust

MFS High Income Municipal Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in the fixed income markets. It primarily invests in municipal bonds and local general obligations of various sectors, such as multifamily, hospitals, care retirement, and investor-owned utilities.