Short Interest in MFS Intermediate High Income Fund (NYSE:CIF) Decreases By 46.9%

MFS Intermediate High Income Fund (NYSE:CIF) was the recipient of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 31,126 shares, a decrease of 46.9% from the February 12th total of 58,659 shares. Based on an average daily volume of 27,718 shares, the short-interest ratio is currently 1.1 days. Currently, 0.2% of the company’s shares are sold short. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 27,718 shares, the short-interest ratio is currently 1.1 days.

Hedge Funds Weigh In On MFS Intermediate High Income Fund

Several institutional investors and hedge funds have recently modified their holdings of CIF. Sit Investment Associates Inc. increased its stake in MFS Intermediate High Income Fund by 25.0% during the 4th quarter. Sit Investment Associates Inc. now owns 1,452,035 shares of the company’s stock worth $2,468,000 after purchasing an additional 290,356 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in MFS Intermediate High Income Fund by 107.6% in the third quarter. Pin Oak Investment Advisors Inc. now owns 165,900 shares of the company’s stock valued at $293,000 after buying an additional 86,000 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in MFS Intermediate High Income Fund in the fourth quarter valued at approximately $31,000. 6.85% of the stock is currently owned by institutional investors and hedge funds.

MFS Intermediate High Income Fund Price Performance

Shares of CIF stock traded down $0.03 on Thursday, hitting $1.65. The stock had a trading volume of 41,693 shares, compared to its average volume of 47,425. MFS Intermediate High Income Fund has a twelve month low of $1.52 and a twelve month high of $1.82. The company has a fifty day moving average price of $1.70 and a two-hundred day moving average price of $1.73.

MFS Intermediate High Income Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.0145 per share. This represents a c) annualized dividend and a dividend yield of 10.6%. The ex-dividend date is Tuesday, March 17th.

About MFS Intermediate High Income Fund

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.