MFS High Yield Municipal Trust (NYSE:CMU) Sees Large Decline in Short Interest

MFS High Yield Municipal Trust (NYSE:CMU) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 10,100 shares, a decrease of 11.4% from the May 31st total of 11,400 shares. Based on an average trading volume of 49,300 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Robinson Capital Management LLC boosted its stake in MFS High Yield Municipal Trust by 2.0% in the first quarter. Robinson Capital Management LLC now owns 192,160 shares of the company’s stock valued at $626,000 after acquiring an additional 3,822 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased 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. purchased a new stake in shares of MFS High Yield Municipal Trust in the 4th quarter valued at about $91,000. City of London Investment Management Co. Ltd. boosted its position 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 during the period. Finally, WMG Financial Advisors LLC purchased a new position in MFS High Yield Municipal Trust during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 32.39% of the company’s stock.

MFS High Yield Municipal Trust Price Performance

Shares of NYSE CMU traded up $0.01 during midday trading on Wednesday, hitting $3.45. 23,940 shares of the company’s stock were exchanged, compared to its average volume of 58,259. The firm’s fifty day simple moving average is $3.33 and its 200-day simple moving average is $3.31. MFS High Yield Municipal Trust has a twelve month low of $2.78 and a twelve month high of $3.45.

MFS High Yield Municipal Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th will be issued a dividend of $0.0145 per share. The ex-dividend date of this dividend is Tuesday, July 16th. This represents a $0.17 dividend on an annualized basis and a yield of 5.04%. This is a boost from MFS High Yield Municipal Trust’s previous monthly dividend of $0.01.

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.