In a robust trading session, MFS High Income Municipal Trust (NYSE: CXE) stock soared to a 52-week high, reaching a price level of $3.91. This peak comes as a significant milestone for the closed-end fund, which has experienced a substantial 1-year change, boasting an 18.54% increase. Investors have shown increased confidence in the fund's performance, reflecting a broader optimism in the high-income municipal bond market. The fund's ascent to this 52-week high underscores its strong performance over the past year, marking a period of notable gains for its shareholders.
InvestingPro Insights
In light of MFS High Income Municipal Trust's (NYSE: CXE) recent achievement, reaching a 52-week high, a closer examination of the fund's performance offers additional insights. According to InvestingPro data, CXE maintains a market capitalization of $122.95 million and a P/E ratio of 21.14, indicating investor valuation of the company's earnings. The fund has shown a modest revenue growth of 0.09% over the last twelve months as of Q2 2024, showcasing steady financial progress. Moreover, CXE's dividend yield stands at an attractive 4.94%, with the fund having a history of maintaining dividend payments for 36 consecutive years, highlighting its commitment to returning value to shareholders.
InvestingPro Tips suggest that CXE trades with low price volatility, which may appeal to investors seeking stability in their portfolio. Additionally, the fund's liquid assets exceed short-term obligations, providing a cushion for operational needs and potential market fluctuations. While the valuation implies a poor free cash flow yield, the fund's profitability over the last twelve months and its trading near the 52-week high are positive indicators of its financial health. For investors interested in further in-depth analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/CXE.
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