MFS High Income Municipal Trust
CXE
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Robin Ann Stelmach
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 111 Huntington Avenue Boston MA United States of America 02199-7618
- IPO Date
- Feb 17, 1989
- CIK
- 0000845606
- Website
- mfs.com
- Similar Companies
- Business
- MFS High Income Municipal Trust (NYSE: CXE) is a closed-end management investment company that seeks high current income exempt from federal income tax through a portfolio of municipal bonds and notes, with a secondary objective of capital appreciation. Launched by Massachusetts Financial Services Company (MFS) on February 17, 1989, and domiciled in the United States, the fund invests at least 80% of its net assets, including leverage from preferred shares and borrowings, in tax-exempt municipal securities issued by state and local governments nationwide; these primarily include high-yield, below-investment-grade obligations across sectors such as multifamily housing, hospitals, continuing care retirement communities, investor-owned utilities, transportation, healthcare facilities, education, energy projects, and infrastructure like turnpikes and green bonds. The portfolio, managed actively from headquarters at 111 Huntington Avenue, Boston, Massachusetts, benchmarks performance against the Bloomberg Municipal Bond Index (formerly Barclays Municipal Bond Index), employs leverage via variable rate municipal term preferred shares (RVMTP), and features an average effective duration of approximately 13.75 years, average effective maturity of 21.11 years, 710 issues from 390 issuers, and a credit quality mix emphasizing A (35%), BBB (31%), BB (19%), and AA (25%) ratings as of September 30, 2025. Shares trade on the New York Stock Exchange at a market price that may differ from net asset value, often at a discount, targeting individual and institutional investors seeking tax-advantaged high income from a nationally diversified municipal bond strategy. In December 2025, the Board of Trustees approved a proposed reorganization of the fund, alongside MFS High Yield Municipal Trust (CMU) and MFS Investment Grade Municipal Trust (CXH), into MFS Municipal Income Trust (MFM), subject to shareholder approval expected in March 2026, with abrdn Inc. potentially replacing MFS as investment adviser and the surviving fund renamed Aberdeen Municipal Income Fund if approved; this follows prior actions including optional partial redemptions of RVMTP shares in 2024 and portfolio management team updates in May 2024.