MFS Intermediate High Income Fund (NYSE:CIF) Sees Significant Decline in Short Interest

MFS Intermediate High Income Fund (NYSE:CIF) was the recipient of a large decrease in short interest in March. As of March 13th, there was short interest totaling 7,859 shares, a decrease of 74.8% from the February 26th total of 31,126 shares. Based on an average daily trading volume, of 58,846 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are sold short. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 58,846 shares, the days-to-cover ratio is currently 0.1 days.

MFS Intermediate High Income Fund Stock Up 0.6%

Shares of CIF traded up $0.01 during midday trading on Wednesday, reaching $1.64. 7,471 shares of the stock were exchanged, compared to its average volume of 50,157. The stock’s 50 day simple moving average is $1.69 and its 200 day simple moving average is $1.72. MFS Intermediate High Income Fund has a twelve month low of $1.52 and a twelve month high of $1.82.

MFS Intermediate High Income Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.0145 dividend. The ex-dividend date is Tuesday, March 17th. This represents a c) annualized dividend and a yield of 10.7%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CIF. Jane Street Group LLC acquired a new stake in shares of MFS Intermediate High Income Fund in the fourth quarter valued at approximately $31,000. Pin Oak Investment Advisors Inc. raised its position in shares of MFS Intermediate High Income Fund by 107.6% in the 3rd 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, Sit Investment Associates Inc. grew its position in shares of MFS Intermediate High Income Fund by 25.0% in the 4th quarter. Sit Investment Associates Inc. now owns 1,452,035 shares of the company’s stock valued at $2,468,000 after buying an additional 290,356 shares during the last quarter. Institutional investors and hedge funds own 6.85% of the company’s stock.

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.