MFS Intermediate Income Trust (NYSE:MIN) Short Interest Update

MFS Intermediate Income Trust (NYSE:MIN) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 250,639 shares, a growth of 69.6% from the April 30th total of 147,764 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 293,974 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of MFS Intermediate Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. lifted its stake in shares of MFS Intermediate Income Trust by 0.7% during the 4th quarter. Sit Investment Associates Inc. now owns 29,167,975 shares of the financial services provider’s stock worth $76,128,000 after acquiring an additional 213,250 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in MFS Intermediate Income Trust by 6.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,232,821 shares of the financial services provider’s stock valued at $8,664,000 after acquiring an additional 206,565 shares during the period. Bank of America Corp DE grew its position in MFS Intermediate Income Trust by 26.2% in the 3rd quarter. Bank of America Corp DE now owns 898,697 shares of the financial services provider’s stock valued at $2,409,000 after acquiring an additional 186,567 shares during the last quarter. Equitable Holdings Inc. grew its position in MFS Intermediate Income Trust by 20.8% in the 4th quarter. Equitable Holdings Inc. now owns 701,847 shares of the financial services provider’s stock valued at $1,832,000 after acquiring an additional 121,083 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in MFS Intermediate Income Trust by 31.8% in the third quarter. Advisors Asset Management Inc. now owns 305,198 shares of the financial services provider’s stock worth $818,000 after purchasing an additional 73,627 shares during the period. 50.90% of the stock is owned by hedge funds and other institutional investors.

MFS Intermediate Income Trust Stock Performance

Shares of MIN remained flat at $2.44 during midday trading on Wednesday. 21,084 shares of the stock traded hands, compared to its average volume of 274,099. MFS Intermediate Income Trust has a 1-year low of $2.41 and a 1-year high of $2.73. The company’s 50-day moving average is $2.47 and its 200 day moving average is $2.56.

MFS Intermediate Income Trust Cuts Dividend

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

About MFS Intermediate Income Trust

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.