MFS Intermediate Income Trust (NYSE:MIN) Sees Large Drop in Short Interest

MFS Intermediate Income Trust (NYSE:MIN) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 227,728 shares, a drop of 36.4% from the August 31st total of 358,020 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 299,783 shares, the days-to-cover ratio is presently 0.8 days.

MFS Intermediate Income Trust Trading Up 1.1%

NYSE MIN traded up $0.03 during mid-day trading on Friday, hitting $2.33. The company’s stock had a trading volume of 86,050 shares, compared to its average volume of 239,124. The stock’s fifty day simple moving average is $2.40 and its two-hundred day simple moving average is $2.44. MFS Intermediate Income Trust has a 52-week low of $2.30 and a 52-week high of $2.68.

MFS Intermediate Income Trust’s stock is scheduled to reverse split on the morning of Thursday, October 8th. The 1-6 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, October 7th.

MFS Intermediate Income Trust Announces Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd were given a dividend of $0.02 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend was Tuesday, September 22nd.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Solutions Group LLC acquired a new position in MFS Intermediate Income Trust during the 2nd quarter valued at approximately $43,000. Compound Planning Inc. grew its stake 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 worth $65,000 after purchasing an additional 8,584 shares during the last quarter. GatePass Capital LLC bought a new position in shares of MFS Intermediate Income Trust in the first quarter valued at $65,000. Evolve Private Wealth LLC acquired a new stake in shares of MFS Intermediate Income Trust during the first quarter worth $75,000. Finally, Decision Investments Inc. increased its position in shares of MFS Intermediate Income Trust by 6.6% in the first quarter. Decision Investments Inc. now owns 163,000 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 10,100 shares in the last quarter. 50.90% of the stock is owned by institutional investors and hedge funds.

About MFS Intermediate Income Trust

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.