MFS Intermediate Income Trust (NYSE:MIN) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

MFS Intermediate Income Trust (NYSE:MIN) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.46 and traded as low as $2.33. MFS Intermediate Income Trust shares last traded at $2.3350, with a volume of 222,378 shares trading hands.

MFS Intermediate Income Trust Stock Performance

The firm has a fifty day moving average price of $2.43 and a 200 day moving average price of $2.46.

MFS Intermediate Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be given a $0.02 dividend. This represents a c) annualized dividend and a yield of 10.2%. The ex-dividend date is Tuesday, September 22nd.

Hedge Funds Weigh In On MFS Intermediate Income Trust

A number of large investors have recently modified their holdings of the stock. Ameritas Advisory Services LLC increased its stake in MFS Intermediate Income Trust by 24.3% in the second quarter. Ameritas Advisory Services LLC now owns 333,668 shares of the financial services provider’s stock valued at $824,000 after purchasing an additional 65,151 shares in the last quarter. Advisory Solutions Group LLC bought a new position in shares of MFS Intermediate Income Trust during the second quarter worth $43,000. GatePass Capital LLC grew its holdings in shares of MFS Intermediate Income Trust by 2,212.3% in the 2nd quarter. GatePass Capital LLC now owns 601,200 shares of the financial services provider’s stock valued at $1,485,000 after buying an additional 575,200 shares during the period. Compound Planning Inc. increased its position in shares of MFS Intermediate Income Trust by 49.9% in the 1st quarter. Compound Planning Inc. now owns 25,797 shares of the financial services provider’s stock valued at $65,000 after buying an additional 8,584 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in MFS Intermediate Income Trust by 1.5% during the 1st quarter. Private Advisor Group LLC now owns 347,425 shares of the financial services provider’s stock worth $872,000 after buying an additional 5,075 shares during the period. 50.90% of the stock is currently owned by institutional investors and hedge funds.

MFS Intermediate Income Trust Company Profile

MFS Intermediate Income Trust (NYSE:MIN) is a closed-end management investment company that seeks to provide high current income while maintaining prudent portfolio diversification. The fund invests primarily in fixed-income securities, including government and corporate bonds, mortgage-backed securities, asset-backed securities and other debt instruments.

The portfolio may include securities issued by companies and governments in the United States and other countries. MFS Investment Management serves as the fund’s investment adviser and manages the portfolio using research and credit analysis to identify income-producing opportunities across intermediate-term debt markets.

MFS Intermediate Income Trust is part of the MFS family of investment products, which has a long history of managing mutual funds and other investment vehicles.