Deep dive · NYQ: CXE
MFS High Income Municipal Trust stock analysis
Everything behind the call on MFS High Income Municipal Trust. 6 sections, ordered the way risk stacks up: survival first, quality and price in the middle, context last. The Beacon gives you the read. This is where you check the work.
The five reads
Global tape
No overseas listings — CXE trades on its home exchange only.
The bottom linestart here
Dividend
5.37%
Forward annual yield at today's price
Risk flags
None flagged
5 checks run, 1 clear
worst drawdown 0%
New to this? Every metric carries a plain-English read beside it, and an ⓘ next to a label opens the definition. Anything unfamiliar is also defined at the foot of the page under Glossary.
In one paragraphwhat the company actually does139 chars
MFS High Income Municipal Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company.
NYQ · USDAsset Management
$4.10+0.45 · +12.33%AH · vol 0
52-week range↑ 21% off low · ↓ 0.0% off high
$3.40now $4.10$4.10
Tape 2026-06-08
01
Survival & solvency
and 1 of 5 forensic checks clear.
↳ Plain EnglishBefore anything else: can this company pay its bills? These blocks check the balance sheet, whether your slice of ownership is being diluted, and whether the accounting looks honest.
Piotroski F-score
n/aNA
Piotroski F-score not available. Nine pass/fail tests covering profitability, leverage and operating efficiency; seven or more is strong.
Balance sheet
Your ownership stake
Data unavailableShare-count history for this name is not on file, so dilution, buyback yield and stock-comp intensity cannot be computed. They appear once two annual filings are parsed.
Accounting forensicsSEC filings
Red-flag x-rayGRADE A
100 / 100
0 critical · 0 watch · 1 clear of 1 scored tests
Red-flag x-ray · every check, passes included
CheckStatusValueWhat it looks for
Bankruptcy distressNAn/aAltman-Z not available · fundamentals
Earnings manipulationNAn/aBeneish-M not available · fundamentals
LeverageNAn/aLong-term debt / equity not available · fundamentals
Profitability qualityNAn/aPiotroski F-score not available · fundamentals
Filing forensicsCLEAR0 flagsno filing red flags on the latest 10-K · forensic
5 checks, 1 clear. The passes are shown because a score built from five checks means something different from one built from three.
02
Business quality
The quality blocks below render whatever the filings support; anything absent says so in place.
↳ Plain EnglishMargins tell you how much of each sales dollar the company keeps. Return on capital tells you whether reinvesting that money creates value. Both are read against what the filings support, not against a target.
P(beat next quarter)
61%COHORT BASE RATE
survivor-tilted universe (currently-listed names; large-cap-skewed coverage)
Profitability
Data unavailableNo parsed income statement is on file, so margins, returns on capital and cash generation cannot be computed for this name.
Growth & relative strength
Data unavailableNot enough price and filing history to compute growth or relative strength for this name.
Around earnings
Typical earnings moveData unavailableRealized move magnitudes are not published for this name yet — no measured print on file.
Reaction: beat vs missData unavailableThe beat-versus-miss reaction gap is not computed for this name — undetermined — needs ≥12 measured beats.
Consensus biasVALIDATED
Persistent
insufficient surprise history
Dividends & income
Dividend yieldforward annual
5.37%
The cash return the payment alone provides at today's price.
Inventory ledger
Data unavailableNo inventory detail is tagged in this company's filings. The ledger needs the XBRL inventory components, which a business without physical goods does not report.
Segments & geography
Data unavailableRevenue by segment and region is not on file for this name, so product and geographic concentration are not shown.
Pattern reliability · platform-wide cohortSnapshot · Sep 18, 2026
Sideways
HorizonHigherMedianObservations
10d47%0.0%1,473,236
21d49%0.0%691,862
63d51%+0.2%218,831
slope -0.01 over 40 bars
Dragonfly doji · leans bullish
HorizonHigherMedianObservations
10d36%0.0%505,573
21d40%0.0%236,527
63d44%0.0%73,137
long lower shadow, open=close near high
Double top · leans bearish
HorizonHigherMedianObservations
10d50%0.0%1,212,095
21d51%+0.1%570,206
63d52%+0.4%180,573
two peaks ≈ equal — reversal if neckline breaks
Triple top · leans bearish
HorizonHigherMedianObservations
10d50%0.0%971,828
21d52%+0.2%456,413
63d54%+0.5%144,062
three peaks ≈ equal
Triple bottom · leans bullish
HorizonHigherMedianObservations
10d49%0.0%961,327
21d50%+0.1%451,185
63d52%+0.3%141,927
three troughs ≈ equal
Inverse head and shoulders · leans bullish
HorizonHigherMedianObservations
10d49%0.0%491,675
21d50%0.0%231,291
63d51%+0.1%73,497
low below two ≈-equal shoulders — bullish reversal
Ascending triangle · leans bullish
HorizonHigherMedianObservations
10d50%0.0%643,427
21d51%+0.2%302,356
63d53%+0.5%95,587
flat resistance, rising support
52w breakout · leans bullish
HorizonHigherMedianObservations
10d43%0.0%195,371
21d46%0.0%91,420
63d52%+0.2%28,471
at/near 52-week high
Gap up · leans bullish
HorizonHigherMedianObservations
10d43%-1.0%179,739
21d43%-2.0%84,391
63d42%-4.5%26,470
opened 12.3% above prior close
Rsi overbought · leans bearish
HorizonHigherMedianObservations
10d40%0.0%264,288
21d42%0.0%123,849
63d46%0.0%39,104
RSI 78 ≥ 70
03
Price & timing
Price $4.10, RSI 39.
↳ Plain EnglishA multiple is what the market charges for a dollar of this company's earnings, cash or revenue; the trend and the options tape say what the price is doing around it. Together they are the timing picture, not the quality one.
Momentum (RSI-14)
39COOL
030 oversold70 hot100
Where momentum sits on a 0–100 scale. Above 70 is overbought, below 30 oversold; the middle says the move has room either way.
The setup right now
Price · 504 sessions2024-06-04 → 2026-06-08
price50-day200-day
How to read this
Up 12.33% on the session.
Follow the solid line: each point is a session close. Compare it to the 50-day average — while price stays above it the short-term trend is up, and a drop below is the first structural warning.
MACDABOVE SIGNAL
0.00
The short-term trend against its own signal line. The sign is the read; the size is not a target.
Pivots (classic)R1 $4 · S1 $4
$4.10
The last settled session's range projected forward. Reference levels, not predictions — after a big gap they can sit on the wrong side of the price until the next close.
DeMark countdownFLAT SETUP
0 of 9
Counts consecutive closes against the prior trend. A completed 9 often marks exhaustion.
2026-09-25 · in 7 daysConsumer SentimentA scheduled macro release. It moves this stock independently of anything the company does.
Setup & oddsNightly
Pullback riskoverstretch read
In line1.00× segment rate · n=46,548
Historically, micro names in this tape state saw a ≥10% pullback within 63 trading days in 88% of cases (n=46,548).
Signal
The odds lean, the stretch qualifies it.
Not enough fundamental coverage to score this name's red-flag cohort — no 12-month odds shown.
Valuation
Earnings yield vs cashBELOW CASH
-4.42pp
Cash pays more than the earnings yield today, so what you are buying is future growth rather than a current return.
Multiples
Trailing P/Eearnings already reported365.0×
1 of the 1 priced multiple above sits in the richer half of its band. Each priced multiple is read against this stock's own history where a five-year range is on file, so the question is whether today is dear for this name rather than for the market. The multiples are computed separately from the quote above and are not re-priced as it moves, so they can lag it.
Price horizon & timing
Data unavailableThis security is delisted, so there is no live tape to compose entry, target and stop against.
Gamma map
Data unavailableThis name has no listed options chain, so there is no dealer gamma to map. Regime, flip level, walls and the implied move all need a chain to exist.
Options tape
Data unavailableNo options chain is connected for this ticker. Max pain, the put/call ratio, the implied move and the open-interest ladder all need the chain feed.
0413F quarterly · Form 4 dailyNET SIGNAL 0
Ownership & flow
Institutions hold 44%.
↳ Plain EnglishWho is buying and selling, and what they had to disclose. Institutions file 13F 45 days after quarter end, executives file Form 4 within two days, and Congress discloses under the STOCK Act with a 30–45 day legal lag. Every one of those is a look backwards.
Institutional ownership
44.3%RETAIL-HEAVY
The share held by 13F filers. It describes last quarter's positioning, not today's — filings land up to 45 days after quarter end.
The QTick signal
Data unavailableNo factor in the model scored for this name, so there is no net signal to show. The signal appears once the nightly factor run covers it.
Cross-category read
Data unavailableFewer independent evidence families are ready than the engine's minimum, so there is nothing to check for agreement. A cross-category read over two categories is not a read.
Wall Street
Data unavailableNo sell-side firm publishes research on this name. There is no consensus rating, no price target and no estimate revisions to weigh — for a company this size that is the norm rather than a gap in our data.
Who owns it13F quarterly · Form 4 daily
Insider ownershipOFFICERS & DIRECTORS
0.0%
The share held by the people running the company.
Dollar volume (ADV)32nd PCTILE
$310,206/day
Average dollars traded per day, and where that ranks cross-sectionally. Thin liquidity is a cost you pay on the way out, not just on the way in.
Borrow feeData unavailableWe do not license securities-lending data, so the annualized cost of borrowing shares to short is not something we can show. Short interest and days-to-cover above are the closest read we can source.
The story · news & sentimentRolling window
Why it moved on Sep 18, 2026NONE
flat
We don't have a fresh enough quote for CXE to measure its move in after-hours trading.
Congress
Data unavailableNo congressional trades in this name have been disclosed under the STOCK Act. Lawmakers' disclosed trades cluster heavily in large caps, so an empty list is the usual state.
050 graded calls
Risk & track record
a 0% worst drawdown, and 1 of 8 risk surfaces clear.
↳ Plain EnglishWhat owning it does to a portfolio, what the model votes against, and how often our own calls have been right. Every call is graded when it resolves, and the ones still open stay visible.
Max drawdown
0.0%WORST FALL
The deepest peak-to-trough fall in the measured window. Only hold a position you can watch do this.
What it does to a portfolio5-year window
What votes against
Data unavailableNo factor in the model currently votes against this name. That is a statement about the model's inputs today, not a claim that nothing could go wrong.
Failure modes · by company type
Data unavailableFailure modes are routed per company type, and only the bank-run and crypto-treasury rulebooks are validated so far. This name routes as unknown, so there is no cohort-specific checklist to run. A generic list would read as analysis without being any.
The risk case · why not to buy8 surfaces · nightly
Avoid score6-month distress
0.2%0.1× its cohort · financials
Observational 6-month large-drawdown risk ranking — not a forecast, not alpha. Historical distress rate for this financials segment: 3.0%. This name reads 0.1× that base rate.
LowDistress screenThe distress model did not score this name in the latest run, so this surface is unmeasured rather than clear.Not scored
LowPosition sizeThe sizing model has not covered this name, so no defensible cap is published for it.Not scored
LowLottery-ticket behaviourNot scored for this name.Not scored
LowCash runwayNot scored for this name.Not scored
LowPost-earnings driftNo measured earnings reaction on file, so the drift surface is unmeasured.Not scored
LowDividend riskNot scored for this name.Not scored
LowRestatement historyFiling history is not deep enough to check for restatements.Not scored
LowCrowded shortNot in a warn state: the crowded-short model only publishes when short interest and thin liquidity coincide, and neither condition is met here.Not scored
Signal
1 of 8 surfaces clear.
8 surfaces checked, 1 clear. Each row states which surface it is and what it measured; a surface that could not be scored says so rather than counting as clear.
Who should skip it
Data unavailableNone of the skip conditions can be evaluated for this name yet — they each need a measured drawdown, beta, yield or scheduled report to key off.
Our track record0 resolved
Calls on CXETHIS NAME
0
This name's own call count. Too few have resolved to publish a rate over them, so none is shown rather than a rate over 0.
0610-K disclosed linksASSET MANAGEMENT
The wider context
5 mapped peers, 3 connections.
↳ Plain EnglishCompanies do not trade alone. This is the peer set, the supply chain that has to deliver, and the macro variables that move the stock regardless of company news.
Rate sensitivity
-48.8% per +1ppMEASURED
Measured against the 10-year yield: a one-point move in the yield has come with about a 48.8% move here, independent of company news.
Versus peersLatest session
Peer set · 5 names
SymbolRelationshipPriceSession
BLKCompetitor$1,069.78+1.50%
BXPeer$124.96-0.36%
BNPeer$37.51+0.86%
KKRPeer$98.81+0.63%
BAMPeer$46.06+1.41%
The mapped peer set and how each traded in the latest session. A peer moving with this name says the move is the sector's; one moving against it says the move is this company's.
Time machineHistory from 2023-06-01
Signal
Every backward window is positive.
That is the definition of a stock that has already worked, and it says nothing about the next window. What it does tell you is what a drawdown would be measured against.
Macro driversRolling window
Next macro catalystIN 7 DAYS
Consumer Sentiment
2026-09-25. A scheduled release that moves this stock independently of anything the company does.
Events · what moves this stockSep 17, 2026
Initial jobless claimsUsually hurts when more people file for benefits than expected
More missed loan payments and less borrowing; lower rates also thin banks' margins.
Typical for the Financial Services sector
On the day 0.0% · A week later +0.1% · Two weeks later +0.2% · Rose on 69 of 155 report days
Across the last 155 Initial jobless claims reports since Jun 8, 2023, CXE moved 0.0% on average on the day and was 0.2% higher two weeks later. The S&P 500 moved -0.1% on those days.
Housing startsUsually helps when more homes are started than expected
More mortgages get written.
Typical for the Financial Services sector
On the day -0.2% · A week later -0.2% · Two weeks later +0.3% · Rose on 13 of 36 report days
Across the last 36 Housing starts reports since Jun 20, 2023, CXE moved -0.2% on average on the day and was 0.3% higher two weeks later. The S&P 500 moved 0.0% on those days.
Industrial productionUsually helps when factory output comes in stronger than expected
Businesses borrow more when they are growing.
Typical for the Financial Services sector
On the day 0.0% · A week later -0.9% · Two weeks later -0.4% · Rose on 16 of 36 report days
Across the last 36 Industrial production reports since Jun 15, 2023, CXE moved 0.0% on average on the day and was 0.4% lower two weeks later. The S&P 500 moved +0.1% on those days.
Retail salesUsually helps when shoppers spend more than expected
More card swipes and consumer borrowing when spending is strong.
Typical for the Financial Services sector
On the day 0.0% · A week later -0.9% · Two weeks later -0.4% · Rose on 16 of 36 report days
Across the last 36 Retail sales reports since Jun 15, 2023, CXE moved 0.0% on average on the day and was 0.4% lower two weeks later. The S&P 500 moved +0.1% on those days.
Consumer sentiment (UMich) is due in 7 days.
Consumer sentiment (UMich)Usually helps when consumers feel better than expectedConfident consumers borrow more.
Typical for the Financial Services sector
On the day +0.1% · A week later +0.7% · Two weeks later +0.8% · Rose on 18 of 35 report days
Across the last 35 Consumer sentiment (UMich) reports since Jun 26, 2023, CXE moved +0.1% on average on the day and was 0.8% higher two weeks later. The S&P 500 moved +0.1% on those days.
Job openings (JOLTS) is due in 11 days.
Job openings (JOLTS)Usually helps when job openings come in higher than expectedEmployed people repay loans and borrow more; banks benefit.
Typical for the Financial Services sector
On the day -0.3% · A week later +0.1% · Two weeks later -0.4% · Rose on 7 of 35 report days
Across the last 35 Job openings (JOLTS) reports since Jul 5, 2023, CXE moved -0.3% on average on the day and was 0.4% lower two weeks later. The S&P 500 moved +0.1% on those days.
Jobs report (nonfarm payrolls) is due in 14 days.
Jobs report (nonfarm payrolls)Usually helps when hiring comes in stronger than expectedEmployed people repay loans and borrow more; banks benefit.
Typical for the Financial Services sector
On the day -0.2% · A week later +0.2% · Two weeks later -0.4% · Rose on 12 of 35 report days
Across the last 35 Jobs report (nonfarm payrolls) reports since Jul 6, 2023, CXE moved -0.2% on average on the day and was 0.4% lower two weeks later. The S&P 500 moved 0.0% on those days.
Unemployment rate is due in 14 days.
Unemployment rateUsually hurts when unemployment rises more than expectedMore missed loan payments and less borrowing; lower rates also thin banks' margins.
Typical for the Financial Services sector
On the day -0.2% · A week later +0.1% · Two weeks later -0.4% · Rose on 12 of 34 report days
Across the last 34 Unemployment rate reports since Jul 6, 2023, CXE moved -0.2% on average on the day and was 0.4% lower two weeks later. The S&P 500 moved 0.0% on those days.
Customer momentum
Data unavailableCustomer momentum needs listed customers that disclose a revenue dependence on this company, and none is on file. The connections below are a different map: competitors and partners, most of them curated rather than filed.
Connections3 links · none confirmed
Direct connections · 3 edges
CompanyRelationSessionProvenance
BLK · Competitorcompetitor+1.50%Rumored · manual
STT · Suppliersupplier-0.11%Rumored · manual
MSFT · Suppliersupplier-0.80%Rumored · manual
0 of 3 edges are named in a filing; the rest come from reporting we have not matched to one yet, and are labelled as such.
Glossary · every term on this page
Survival
Altman Z
Bankruptcy-risk score. Above 3.0 is the safe band.
Piotroski F
Nine pass/fail health tests; 7 or more is strong.
Beneish M
Accrual and growth pattern screen. Clear below −2.22, watch to −1.78, elevated above; a year of very fast revenue growth lifts it by construction.
Merton DTD
Standard deviations of asset value between the company and its debt.
EDF
Default frequency calibrated on what actually happened to similar names.
Price & tape
RSI-14
Momentum gauge 0–100. Above 70 is overbought, below 30 oversold.
ATR
Average true range — the size of a typical day.
VWAP
20-day volume-weighted average price — the average paid over the last month; the page shows no intraday VWAP.
Supertrend
A trend-following stop line. A close through it flips the read.
Chandelier
A trailing stop set a few average ranges below the recent high.
Options & flow
Gamma / GEX
Dealer hedging pressure. Negative gamma amplifies moves both ways.
Call / put wall
The strikes with the heaviest open interest; they act as ceiling and floor.
Max pain
The strike where most options expire worthless.
13F · Form 4
Institutional filings, 45 days after quarter end. Insider trades, within two days.
Scoring
Composite signal
Independent factors scored and netted into one number.
Hit-rate
Share of past calls that resolved in the direction stated.
Brier score
Calibration measure. Lower means stated probabilities track reality.
HHI
Concentration 0–10,000. Above 2,500 means one segment carries the company.
EVT
Fits the tail rather than assuming a bell curve, so bad days are not understated.