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Upturn AI SWOT - About
MFS High Income Municipal Closed Fund (CXE)
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Upturn Advisory Summary
03/27/2025: CXE (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Analysis of Past Performance
Type Stock | Historic Profit -1.08% | Avg. Invested days 45 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 03/27/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 116.01M USD | Price to earnings Ratio 7.08 | 1Y Target Price - |
Price to earnings Ratio 7.08 | 1Y Target Price - | ||
Volume (30-day avg) 69674 | Beta 0.69 | 52 Weeks Range 3.32 - 3.95 | Updated Date 03/30/2025 |
52 Weeks Range 3.32 - 3.95 | Updated Date 03/30/2025 | ||
Dividends yield (FY) 5.14% | Basic EPS (TTM) 0.52 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 161.34% | Operating Margin (TTM) 85.46% |
Management Effectiveness
Return on Assets (TTM) 2.52% | Return on Equity (TTM) 12.44% |
Valuation
Trailing PE 7.08 | Forward PE - | Enterprise Value 185150400 | Price to Sales(TTM) 11.43 |
Enterprise Value 185150400 | Price to Sales(TTM) 11.43 | ||
Enterprise Value to Revenue 7.12 | Enterprise Value to EBITDA - | Shares Outstanding 31525800 | Shares Floating - |
Shares Outstanding 31525800 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 42.34 |
Analyst Ratings
Rating 3 | Target Price - | Buy - | Strong Buy - |
Buy - | Strong Buy - | ||
Hold 1 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
MFS High Income Municipal Closed Fund
Company Overview
History and Background
MFS High Income Municipal Trust (CXE) is a closed-end fund managed by Massachusetts Financial Services Company (MFS). The fund invests primarily in a diversified portfolio of municipal bonds exempt from federal income tax. It aims to provide high current income consistent with capital preservation. The fund was incepted in 1987.
Core Business Areas
- Municipal Bond Investments: Primarily invests in U.S. municipal bonds, seeking high current income that is exempt from federal income tax, consistent with capital preservation.
Leadership and Structure
The fund is managed by portfolio managers at Massachusetts Financial Services Company (MFS). The specific portfolio management team may change over time. The fund operates under a closed-end structure, meaning a fixed number of shares are issued.
Top Products and Market Share
Key Offerings
- Closed-End Municipal Bond Fund: CXE offers investors access to a diversified portfolio of municipal bonds through a closed-end fund structure. Market share data specifically for CXE is difficult to isolate as it is a single fund within the larger municipal bond market. Competitors include other closed-end municipal bond funds like Nuveen and BlackRock offerings.
Market Dynamics
Industry Overview
The municipal bond market is influenced by factors such as interest rates, credit quality of issuers, and tax policies. Demand for municipal bonds often increases during periods of economic uncertainty and rising income tax rates.
Positioning
CXE is positioned as a provider of high current income through municipal bond investments, primarily targeting investors seeking tax-exempt income. Competitive advantages depend on MFS's expertise in municipal bond selection and management.
Total Addressable Market (TAM)
The municipal bond market is a multi-trillion dollar market. CXE, as a closed-end fund, captures a small percentage of this TAM, dependent on its assets under management. CXE's positioning is to provide income within the municipal bond segment.
Upturn SWOT Analysis
Strengths
- Experienced management team (MFS)
- Diversified portfolio of municipal bonds
- Tax-exempt income for investors
- Established track record
Weaknesses
- Closed-end fund structure can lead to trading at a discount to NAV
- Vulnerability to interest rate fluctuations
- Credit risk of municipal bond issuers
- Management fees reduce overall returns
Opportunities
- Increased demand for tax-exempt income in a rising tax environment
- Potential for capital appreciation as interest rates decline
- Expansion of fund assets through new share offerings
- Active management to enhance returns
Threats
- Rising interest rates decrease bond values
- Credit downgrades or defaults of municipal bond issuers
- Changes in tax laws reducing the attractiveness of tax-exempt bonds
- Increased competition from other municipal bond funds and ETFs
Competitors and Market Share
Key Competitors
- Nuveen AMT-Free Quality Municipal Income Fund (NEA)
- BlackRock MuniYield Quality Fund II, Inc. (MQT)
- Eaton Vance Municipal Income Trust (EVN)
Competitive Landscape
CXE competes with other closed-end municipal bond funds based on factors such as yield, expense ratio, and historical performance. Advantages and disadvantages depend on MFS's investment expertise and the fund's portfolio construction.
Major Acquisitions
Growth Trajectory and Initiatives
Historical Growth: Growth is determined by the fund's ability to attract new assets and generate positive returns on its investments.
Future Projections: Future growth depends on market conditions and the fund's ability to outperform its peers. Analyst estimates are not readily available for individual closed-end funds.
Recent Initiatives: Recent initiatives may include adjustments to the fund's portfolio allocation or distribution policy.
Summary
MFS High Income Municipal Trust (CXE) offers investors a tax-advantaged income stream through municipal bond investments. The fund benefits from MFS's experience, but is susceptible to interest rate risks and credit risk. As a closed-end fund, the market price can differ from NAV, creating potential opportunities or risks. The fund needs to carefully manage its expenses to remain competitive.
Similar Companies
- NEA
- MQT
- EVN
- VTEB
- HYD
Sources and Disclaimers
Data Sources:
- MFS Website
- Fund Fact Sheets
- SEC Filings
- Financial News Outlets
Disclaimers:
This analysis is for informational purposes only and should not be considered investment advice. Investment decisions should be based on individual circumstances and consultation with a financial advisor. Market share data is estimated and may not be precise.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About MFS High Income Municipal Closed Fund
Exchange NYSE | Headquaters Boston, MA, United States | ||
IPO Launch date 1989-06-30 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
MFS High Income Municipal Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in the fixed income markets. It primarily invests in municipal bonds and local general obligations of various sectors, such as multifamily, hospitals, care retirement, and investor-owned utilities. The fund benchmarks the performance of its portfolio against Barclays Municipal Bond Index. It was formerly known as Colonial High Income Municipal Trust. MFS High Income Municipal Trust was formed on February 17, 1989 and is domiciled in United States.
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