Mfs Hi Yld (NYSE:CMU) Trading 0.4% Higher – Should You Buy?

Shares of Mfs Hi Yld (NYSE:CMU – Get Free Report) traded up 0.4% during mid-day trading on Tuesday . The stock traded as high as $3.37 and last traded at $3.3650. 9,738 shares traded hands during trading, a decline of 90% from the average session volume of 99,397 shares. The stock had previously closed at $3.35.

Mfs Hi Yld Trading Up 0.4%

The firm has a fifty day moving average price of $3.53 and a 200-day moving average price of $3.54.

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Mfs Hi Yld Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 21st were issued a $0.0165 dividend. The ex-dividend date was Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 5.9%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC boosted its holdings in Mfs Hi Yld by 12.4% in the first quarter. Rivernorth Capital Management LLC now owns 2,955,950 shares of the company’s stock valued at $10,582,000 after acquiring an additional 325,054 shares during the last quarter. WealthTrust Asset Management LLC acquired a new position in Mfs Hi Yld in the first quarter valued at $51,000. Bank of New York Mellon Corp boosted its holdings in Mfs Hi Yld by 11.3% in the first quarter. Bank of New York Mellon Corp now owns 354,378 shares of the company’s stock valued at $1,269,000 after acquiring an additional 35,963 shares during the last quarter. Evolve Private Wealth LLC acquired a new position in Mfs Hi Yld in the fourth quarter valued at $325,000. Finally, Osaic Holdings Inc. boosted its holdings in Mfs Hi Yld by 26.7% in the fourth quarter. Osaic Holdings Inc. now owns 64,223 shares of the company’s stock valued at $225,000 after acquiring an additional 13,521 shares during the last quarter. Institutional investors and hedge funds own 32.39% of the company’s stock.

Mfs Hi Yld Company Profile

(Get Free Report)

MFS High Income Municipal Trust (NYSE:CMU) is a closed-end management investment company that seeks to provide total return through a combination of current income exempt from U.S. federal income tax and capital appreciation. The fund primarily invests in high-yield municipal securities, focusing on non-investment-grade and lower-rated municipal bonds across a variety of sectors. By targeting issuers with attractive yield characteristics, the trust aims to deliver enhanced tax-exempt income to its shareholders.

The investment strategy of the fund emphasizes in-depth credit analysis, sector allocation and risk management.

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