In a buoyant trading session, MFS High Income Municipal Trust (NYSE: CXE) stock soared to a 52-week high, reaching a price level of $3.78. This peak comes as a significant marker for the fund, which has experienced a notable 1-year change, climbing 7.71%. Investors have shown increased confidence in the municipal bond market, which CXE primarily invests in, suggesting a positive outlook for the fund's performance. The 52-week high represents a culmination of the fund's steady growth over the past year, reflecting both the resilience and potential of CXE amidst fluctuating market conditions.
InvestingPro Insights
As MFS High Income Municipal Trust (NYSE: CXE) hits a new 52-week high, a closer look at the fund's financial health and market performance through InvestingPro provides a clearer picture for investors. With a market capitalization of $118.82 million and a P/E ratio standing at 20.48, CXE showcases a stable investment profile. The fund's commitment to shareholder returns is evident from its 36-year history of consistent dividend payments, currently offering an attractive dividend yield of 5.12%. This dedication to dividends, coupled with a stock that generally trades with low price volatility, underscores the fund's appeal to income-focused investors.
An InvestingPro Tip reveals that CXE is trading near its 52-week high, at 99.74% of this peak, reflecting a strong market sentiment. Moreover, the fund's liquid assets surpass its short-term obligations, indicating a robust financial position. For those seeking further insights, InvestingPro features additional tips on CXE, providing a deeper dive into the fund's performance and potential investment opportunities.
It's worth noting that while the fund's revenue in the last twelve months as of Q2 2024 showed a marginal increase of 0.09%, the quarterly comparison reflected a slight decrease of 3.0%. Nevertheless, the fund has remained profitable over this period, as evidenced by a basic and diluted EPS of $0.18. For investors looking to explore more about CXE's financials and market prospects, InvestingPro offers a comprehensive set of tips, with the current list including five more tips to consider.
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