MFS High Income Municipal Trust (NYSE:CXE) Sees Large Increase in Short Interest

MFS High Income Municipal Trust (NYSE:CXE) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 69,000 shares, an increase of 12.9% from the May 31st total of 61,100 shares. Based on an average trading volume of 51,000 shares, the days-to-cover ratio is currently 1.4 days.

MFS High Income Municipal Trust Trading Up 1.1 %

Shares of NYSE:CXE traded up $0.04 during mid-day trading on Wednesday, reaching $3.74. 25,754 shares of the company traded hands, compared to its average volume of 52,315. The company’s 50 day moving average price is $3.62 and its 200-day moving average price is $3.59. MFS High Income Municipal Trust has a 52 week low of $2.95 and a 52 week high of $3.76.

MFS High Income 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 dividend of $0.016 per share. The ex-dividend date is Tuesday, July 16th. This is an increase from MFS High Income Municipal Trust’s previous monthly dividend of $0.02. This represents a $0.19 dividend on an annualized basis and a dividend yield of 5.13%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CXE. Almitas Capital LLC bought a new position in shares of MFS High Income Municipal Trust during the 3rd quarter valued at approximately $1,081,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of MFS High Income Municipal Trust by 20.3% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 712,438 shares of the company’s stock valued at $2,586,000 after acquiring an additional 120,232 shares during the period. Sanders Morris Harris LLC bought a new position in MFS High Income Municipal Trust in the 1st quarter worth approximately $338,000. Matisse Capital bought a new position in MFS High Income Municipal Trust in the 1st quarter worth approximately $265,000. Finally, Truist Financial Corp boosted its stake in MFS High Income Municipal Trust by 38.4% in the 4th quarter. Truist Financial Corp now owns 145,217 shares of the company’s stock worth $516,000 after purchasing an additional 40,258 shares during the period. 34.37% of the stock is currently owned by institutional investors.

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.