MFS High Income Municipal Trust (CXE) Formed Bearish Multiple Bottom Pattern; Sellers Are Thriving

July 27, 2018 - By Kristin Houston

Investors sentiment increased to 1.2 in 2018 Q1. Its up 0.47, from 0.73 in 2017Q4. It is positive, as 5 investors sold MFS High Income Municipal Trust shares while 5 reduced holdings. 9 funds opened positions while 3 raised stakes. 2.45 million shares or 10.03% more from 2.22 million shares in 2017Q4 were reported.
Lpl Financial Ltd Liability has 18,137 shares for 0% of their portfolio. Laurion Management L P stated it has 381,935 shares. Wells Fargo Mn reported 0% of its portfolio in MFS High Income Municipal Trust (NYSE:CXE). Capital Invest, Georgia-based fund reported 17,250 shares. Invesco Limited holds 338,217 shares. Mackay Shields Ltd Liability holds 303,705 shares. 148,568 are held by Savings Bank Of America Corp De. Raymond James And Associates owns 97,430 shares for 0% of their portfolio. Gemmer Asset Mngmt Ltd Liability holds 0% in MFS High Income Municipal Trust (NYSE:CXE) or 800 shares. Advisors Asset Mngmt invested 0.01% of its portfolio in MFS High Income Municipal Trust (NYSE:CXE). Raymond James Trust Na has invested 0% in MFS High Income Municipal Trust (NYSE:CXE). Royal Financial Bank Of Canada, a Ontario – Canada-based fund reported 16,731 shares. 38,060 are owned by Raymond James Fincl Advsrs. Horizon Kinetics Limited Liability Company reported 560,188 shares. Argent Trust accumulated 13,328 shares.

The stock of MFS High Income Municipal Trust (CXE) shows a multiple bottoms pattern with $4.77 target or 3.00 % below today’s $4.92 share price. The 9 months chart pattern indicates high risk for the $155.01M company. It was reported on Jul, 27 by Finviz.com. If the $4.77 price target is reached, the company will be worth $4.65M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.40% or $0.02 during the last trading session, reaching $4.92. About 38,125 shares traded. MFS High Income Municipal Trust (NYSE:CXE) has declined 4.10% since July 27, 2017 and is downtrending. It has underperformed by 16.67% the S&P500.

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