MFS High Yield Municipal Trust (NYSE:CMU) Short Interest Update

MFS High Yield Municipal Trust (NYSE:CMU – Get Rating) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totalling 4,100 shares, a drop of 64.3% from the April 30th total of 11,500 shares. Based on an average daily trading volume, of 92,300 shares, the days-to-cover ratio is presently 0.0 days.

MFS High Yield Municipal Trust stock traded up $0.14 during midday trading on Friday, hitting $3.72. 997,123 shares of the company were exchanged, compared to its average volume of 97,715. MFS High Yield Municipal Trust has a fifty-two week low of $3.27 and a fifty-two week high of $4.90. The company’s fifty day moving average price is $3.59 and its 200-day moving average price is $4.07.

The company also recently announced a monthly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Wednesday, May 18th will be given a dividend of $0.0153 per share. The ex-dividend date is Tuesday, May 17th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 4.92%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Robinson Capital Management LLC lifted its holdings in MFS High Yield Municipal Trust by 2.4% in the 1st quarter. Robinson Capital Management LLC now owns 715,718 shares of the company’s stock worth $2,770,000 after buying an additional 17,006 shares in the last quarter. Guggenheim Capital LLC acquired a new stake in MFS High Yield Municipal Trust during the 1st quarter valued at approximately $42,000. Rivernorth Capital Management LLC increased its holdings in MFS High Yield Municipal Trust by 87.7% during the 1st quarter. Rivernorth Capital Management LLC now owns 1,137,238 shares of the company’s stock worth $4,401,000 after purchasing an additional 531,223 shares during the last quarter. UBS Group AG raised its position in shares of MFS High Yield Municipal Trust by 5.5% in the 1st quarter. UBS Group AG now owns 459,430 shares of the company’s stock valued at $1,778,000 after purchasing an additional 24,080 shares in the last quarter. Finally, Doyle Wealth Management purchased a new position in shares of MFS High Yield Municipal Trust during the 1st quarter valued at approximately $66,000.

About MFS High Yield Municipal Trust (Get Rating)

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.

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