To start off 2021, our first stock pick is going to be MFS High Income Municipal Trust, with the symbol of CXE. CXE closed at $5.07 during the last trading day before the holiday.
|BUY 4 shares of CXE @ LIMIT of 5.10 for the day.
|OCO SELL 4 shares of CXE @ LIMIT of 5.61 GTC (Good Til Cancelled)
| SELL 4 shares of CXE @ STOP of 4.85 GTC
We’ll be hoping to get this at 5.08 or below at the market open. We’ll put an initial take profit at about 10% ($5.61) with a stop loss at 5% ($4.85). These can be adjusted as time goes on.
Details about CXE
MFS High Income Municipal Trust (the Fund) is a diversified closed-end management investment company. The Fund’s investment objective is to seek high current income exempt from federal income tax, but may also consider capital appreciation. The Fund invests, under normal market conditions, approximately 80% of its net assets, including assets attributable to preferred shares and borrowings for investment purposes, in tax-exempt bonds and tax exempt notes. The Fund invests primarily in municipal instruments. The Fund also invests in high-yield securities rated below investment grade. The Fund’s portfolio of investments includes municipal bonds and auction rate preferred shares (ARPS), among others. The Fund’s investments span across Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois and Kansas. The Fund’s investment advisor is Massachusetts Financial Services Company.
This is a sub dollar pick with more risk involved. Only risk money you can afford to lose.
USRM : Limit order to BUY 1000 shares at the OPEN @ 0.14 ($14 + fees)