MFS High Yield Municipal Trust (NYSE:CMU) Sees Significant Growth in Short Interest

MFS High Yield Municipal Trust (NYSE:CMU) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 349,200 shares, a growth of 25.4% from the August 15th total of 278,500 shares. Based on an average daily volume of 72,400 shares, the short-interest ratio is presently 4.8 days.

MFS High Yield Municipal Trust Trading Down 0.3 %

Shares of NYSE:CMU traded down $0.01 on Monday, hitting $3.24. 38,404 shares of the company’s stock were exchanged, compared to its average volume of 68,714. MFS High Yield Municipal Trust has a 1-year low of $2.88 and a 1-year high of $3.40. The firm’s 50-day moving average is $3.28 and its 200 day moving average is $3.22.

MFS High Yield Municipal Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 13th will be issued a $0.011 dividend. This represents a $0.13 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, September 12th.

Insider Activity at MFS High Yield Municipal Trust

In related news, major shareholder Saba Capital Management, L.P. acquired 46,009 shares of MFS High Yield Municipal Trust stock in a transaction dated Monday, July 24th. The shares were acquired at an average cost of $3.30 per share, for a total transaction of $151,829.70. Following the completion of the purchase, the insider now owns 3,351,581 shares in the company, valued at $11,060,217.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders acquired 56,794 shares of company stock worth $186,599.

Institutional Investors Weigh In On MFS High Yield Municipal Trust

A number of institutional investors and hedge funds have recently bought and sold shares of CMU. Doyle Wealth Management purchased a new stake in MFS High Yield Municipal Trust in the first quarter valued at approximately $66,000. UBS Group AG raised its holdings in shares of MFS High Yield Municipal Trust by 5.5% in the first quarter. UBS Group AG now owns 459,430 shares of the company’s stock valued at $1,778,000 after buying an additional 24,080 shares during the last quarter. Rivernorth Capital Management LLC boosted its stake in shares of MFS High Yield Municipal Trust by 87.7% during the first quarter. Rivernorth Capital Management LLC now owns 1,137,238 shares of the company’s stock worth $4,401,000 after buying an additional 531,223 shares during the period. Guggenheim Capital LLC purchased a new position in shares of MFS High Yield Municipal Trust during the first quarter worth about $42,000. Finally, Robinson Capital Management LLC raised its stake in MFS High Yield Municipal Trust by 2.4% during the 1st quarter. Robinson Capital Management LLC now owns 715,718 shares of the company’s stock valued at $2,770,000 after acquiring an additional 17,006 shares during the last quarter. 32.85% of the stock is owned by hedge funds and other institutional investors.

MFS High Yield Municipal Trust Company Profile

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.