Welcome to our dedicated page for MFS High Income Municipal Trust news (Ticker: CXE), a resource for investors and traders seeking the latest updates and insights on MFS High Income Municipal Trust stock.
MFS High Income Municipal Trust (CXE) is a diversified closed-end management investment company domiciled in the United States. With a primary investment objective of seeking high current income exempt from federal income tax, CXE has established itself as a reliable option for investors looking to minimize their tax liabilities while maximizing their income potential.
The fund primarily invests a majority of its net assets, which includes assets attributable to preferred shares and borrowings for investment purposes, in tax-exempt bonds and notes. This strategic focus on tax-exempt securities helps investors shield a significant portion of their income from federal taxation, making CXE an attractive option for those in higher tax brackets.
MFS High Income Municipal Trust is managed by MFS Investment Management, a company with a robust heritage of nearly a century in the investment space. MFS is well-regarded for its long-term vision, emphasis on collaborative thinking, and powerful risk-managed results. The company's employees are aligned with the core values that matter most to their clients, ensuring decisions are made with a long-term perspective in mind.
Recent achievements of the fund include consistent performance in terms of income generation and maintaining a diversified portfolio of high-quality municipal bonds. MFS High Income Municipal Trust continues to leverage integrated research and uncompromised information sharing to turn good investment ideas into great outcomes for its investors.
Overall, MFS High Income Municipal Trust (CXE) stands out for its focused investment strategy and reliable management, making it a noteworthy addition to any investment portfolio aimed at achieving tax-exempt income.
MFS® has updated the portfolio management team for three closed-end funds: MFS® High Income Municipal Trust (NYSE: CXE), MFS® High Yield Municipal Trust (NYSE: CMU), and MFS® Municipal Income Trust (NYSE: MFM), effective immediately. The team will be led by portfolio managers Michael Dawson, Jason Kosty, and Geoffrey Schechter. This change follows the passing of Gary Lasman on March 28, 2023. MFS emphasizes that the investment objectives and strategies of the funds remain unchanged despite this personnel transition. MFS, established in 1924, manages approximately US$560.4 billion in assets as of February 28, 2023.
MFS High Income Municipal Trust (NYSE: CXE) and MFS High Yield Municipal Trust (NYSE: CMU) announced an optional partial redemption of their Remarketable Variable Rate MuniFund Term Preferred Shares, Series 2051, set for November 28, 2022. CXE will redeem up to 110 of its 975 shares, while CMU will redeem up to 50 of its 750 shares, both at a price of $100,000 per share plus unpaid dividends. This move aims to reduce each fund's leverage from preferred shares, with all regulatory requirements fulfilled by MFS Investment Management.
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