Mfs Hi Yld (NYSE:CMU) Trading 1% Higher – Still a Buy?

Mfs Hi Yld (NYSE:CMU) shot up 1% during mid-day trading on Wednesday . The company traded as high as $3.61 and last traded at $3.6050. 33,041 shares were traded during trading, a decline of 52% from the average session volume of 68,146 shares. The stock had previously closed at $3.57.

Mfs Hi Yld Trading Up 1.0%

The firm’s fifty day moving average price is $3.54 and its two-hundred day moving average price is $3.48.

Mfs Hi Yld Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.0165 per share. The ex-dividend date is Tuesday, February 17th. This represents a c) dividend on an annualized basis and a yield of 5.5%.

Hedge Funds Weigh In On Mfs Hi Yld

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in shares of Mfs Hi Yld by 46.8% in the fourth quarter. Wells Fargo & Company MN now owns 9,609 shares of the company’s stock worth $34,000 after acquiring an additional 3,063 shares during the period. Nomura Holdings Inc. purchased a new position in Mfs Hi Yld in the third quarter worth about $35,000. Closed End Fund Advisors Inc. bought a new stake in shares of Mfs Hi Yld during the 4th quarter valued at about $46,000. International Assets Investment Management LLC bought a new stake in shares of Mfs Hi Yld during the 3rd quarter valued at about $44,000. Finally, Spirepoint Private Client LLC purchased a new stake in shares of Mfs Hi Yld during the 3rd quarter valued at about $56,000. 32.39% of the stock is currently owned by hedge funds and other institutional investors.

About Mfs Hi Yld

MFS High Income Municipal Trust (NYSE:CMU) is a closed-end management investment company that seeks to provide total return through a combination of current income exempt from U.S. federal income tax and capital appreciation. The fund primarily invests in high-yield municipal securities, focusing on non-investment-grade and lower-rated municipal bonds across a variety of sectors. By targeting issuers with attractive yield characteristics, the trust aims to deliver enhanced tax-exempt income to its shareholders.

The investment strategy of the fund emphasizes in-depth credit analysis, sector allocation and risk management.