MFS High Income Municipal Trust (NYSE:CXE) Sees Significant Increase in Short Interest
by Teresa Graham · The Cerbat GemMFS High Income Municipal Trust (NYSE:CXE – Get Free Report) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 29,351 shares, an increase of 711.7% from the December 31st total of 3,616 shares. Based on an average daily trading volume, of 121,922 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 121,922 shares, the short-interest ratio is currently 0.2 days.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP bought a new stake in shares of MFS High Income Municipal Trust in the third quarter valued at about $84,000. Nomura Holdings Inc. acquired a new stake in MFS High Income Municipal Trust in the 3rd quarter worth about $56,000. Citadel Advisors LLC boosted its holdings in MFS High Income Municipal Trust by 19.1% in the 3rd quarter. Citadel Advisors LLC now owns 25,812 shares of the company’s stock valued at $96,000 after purchasing an additional 4,142 shares during the period. Bulldog Investors LLP boosted its holdings in MFS High Income Municipal Trust by 1.4% in the 3rd quarter. Bulldog Investors LLP now owns 449,633 shares of the company’s stock valued at $1,673,000 after purchasing an additional 6,002 shares during the period. Finally, Truist Financial Corp grew its position in shares of MFS High Income Municipal Trust by 5.7% during the 3rd quarter. Truist Financial Corp now owns 94,195 shares of the company’s stock worth $350,000 after purchasing an additional 5,094 shares in the last quarter. Institutional investors own 34.37% of the company’s stock.
MFS High Income Municipal Trust Trading Up 0.8%
CXE stock traded up $0.03 during mid-day trading on Wednesday, hitting $3.77. 36,209 shares of the company were exchanged, compared to its average volume of 103,932. MFS High Income Municipal Trust has a 1-year low of $3.38 and a 1-year high of $3.85. The business has a 50 day simple moving average of $3.72 and a 200-day simple moving average of $3.67.
MFS High Income Municipal Trust Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, January 20th will be issued a dividend of $0.018 per share. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, January 20th.
About MFS High Income Municipal Trust
MFS High Income Municipal Trust (NYSE: CXE) is a diversified, closed-end management investment company that seeks to provide shareholders with high current income exempt from regular federal income tax. The fund achieves this objective by investing primarily in a portfolio of municipal obligations, which may include general obligation bonds, revenue bonds and other municipal securities issued by state and local governments throughout the United States.
The trust focuses on both investment-grade and below-investment-grade municipal securities, aiming to capture wider spreads in the high-yield segment of the municipal bond market.