MFS Intermediate Income Trust (NYSE:MIN) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

MFS Intermediate Income Trust (NYSE:MIN)’s share price passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $14.07 and traded as low as $14.02. MFS Intermediate Income Trust shares last traded at $14.0410, with a volume of 17,954 shares.

MFS Intermediate Income Trust Stock Down 0.3%

The company has a fifty day simple moving average of $14.07 and a two-hundred day simple moving average of $14.69.

MFS Intermediate Income Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a dividend of $0.11 per share. This is a negative change from MFS Intermediate Income Trust’s previous monthly dividend of $0.12. This represents a $1.32 annualized dividend and a yield of 9.4%. The ex-dividend date of this dividend is Friday, November 20th.

Institutional Investors Weigh In On MFS Intermediate Income Trust

A number of large investors have recently bought and sold shares of MIN. Advisory Solutions Group LLC acquired a new position in shares of MFS Intermediate Income Trust in the 2nd quarter valued at approximately $43,000. Compound Planning Inc. boosted its position in shares of MFS Intermediate Income Trust by 49.9% during the 1st quarter. Compound Planning Inc. now owns 25,797 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 8,584 shares in the last quarter. GatePass Capital LLC acquired a new stake in shares of MFS Intermediate Income Trust during the 1st quarter worth approximately $65,000. Private Advisor Group LLC bought a new position in MFS Intermediate Income Trust in the third quarter valued at approximately $739,000. Finally, 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 acquiring an additional 65,151 shares during the last quarter. 50.90% of the stock is currently owned by institutional investors and hedge funds.

MFS Intermediate Income Trust Company Profile

MFS Intermediate Income Trust is a closed-end investment fund that seeks to provide a high level of current income. Its investment objective also allows for capital appreciation as a secondary consideration. The fund invests primarily in debt securities, including bonds issued by companies and governments. Its portfolio may include securities from U.S. and non-U.S. issuers, giving it exposure to fixed-income markets across multiple geographies. MFS Investment Management serves as the fund’s investment adviser.