MFS Intermediate Income Trust (NYSE:MIN) Stock Price Passes Above Fifty Day Moving Average – Here’s What Happened

Shares of MFS Intermediate Income Trust (NYSE:MIN) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.45 and traded as high as $2.46. MFS Intermediate Income Trust shares last traded at $2.4350, with a volume of 126,602 shares trading hands.

MFS Intermediate Income Trust Trading Up 0.2%

The firm has a fifty day moving average of $2.45 and a 200 day moving average of $2.53.

MFS Intermediate Income Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.0186 dividend. This represents a c) dividend on an annualized basis and a yield of 9.2%. The ex-dividend date is Tuesday, June 16th.

Institutional Trading of MFS Intermediate Income Trust

Hedge funds have recently made changes to their positions in the company. Landscape Capital Management L.L.C. acquired a new position in shares of MFS Intermediate Income Trust during the fourth quarter worth $34,000. Integrated Wealth Concepts LLC bought a new position in MFS Intermediate Income Trust during the 3rd quarter valued at $39,000. Compound Planning Inc. acquired a new position in MFS Intermediate Income Trust in the fourth quarter worth about $45,000. GatePass Capital LLC bought a new stake in shares of MFS Intermediate Income Trust in the 1st quarter valued at approximately $65,000. Finally, Benjamin Edwards Inc. increased its stake in MFS Intermediate Income Trust by 34.7% during the fourth quarter. Benjamin Edwards Inc. now owns 27,170 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 7,000 shares during the last quarter. Hedge funds and other institutional investors own 50.90% of the company’s stock.

MFS Intermediate Income Trust Company Profile

MFS Intermediate Income Trust (NYSE: MIN) is a closed-end management investment company that seeks to provide a high level of current income consistent with the preservation of capital. The Trust pursues its objective by investing primarily in a diversified portfolio of intermediate-duration fixed-income securities. Its holdings typically include investment-grade corporate bonds, mortgage- and asset-backed securities, and select non-investment-grade debt instruments. The Trust may employ leverage to enhance income potential and intends to distribute gains and interest earnings on a monthly basis.

The portfolio is managed by the fixed-income team at MFS Investment Management, a global asset manager founded in 1924 and headquartered in Boston, Massachusetts.