MFS Intermediate High Income Fund (NYSE:CIF) Stock Price Up 0.6% – Should You Buy?

MFS Intermediate High Income Fund (NYSE:CIFGet Free Report)’s stock price shot up 0.6% during mid-day trading on Tuesday . The company traded as high as $1.72 and last traded at $1.7150. 27,251 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 68,575 shares. The stock had previously closed at $1.7050.

MFS Intermediate High Income Fund Trading Up 0.3%

The stock’s 50 day simple moving average is $1.73 and its 200 day simple moving average is $1.74.

MFS Intermediate High Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $0.0145 dividend. This represents a c) annualized dividend and a yield of 10.2%. The ex-dividend date of this dividend is Tuesday, December 16th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MFS Intermediate High Income Fund stock. Kovack Advisors Inc. acquired a new position in shares of MFS Intermediate High Income Fund (NYSE:CIFFree Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,527 shares of the company’s stock, valued at approximately $27,000. Kovack Advisors Inc. owned about 0.09% of MFS Intermediate High Income Fund at the end of the most recent reporting period. Hedge funds and other institutional investors own 6.85% of the company’s stock.

About MFS Intermediate High Income Fund

(Get Free Report)

MFS Intermediate High Income Fund Inc (NYSE: CIF) is a closed-end management investment company advised by MFS Investment Management, one of the oldest global asset managers headquartered in Boston, Massachusetts. The fund seeks to provide current income and capital appreciation by allocating assets primarily to intermediate‐duration debt instruments. It trades on the New York Stock Exchange under the symbol CIF and offers investors exposure to a diversified portfolio of fixed-income securities.

The fund’s investment strategy emphasizes intermediate maturities, generally targeting bonds and loans with durations ranging from two to seven years.

Further Reading

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