MFS Intermediate Income Trust (NYSE:MIN) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Shares of MFS Intermediate Income Trust (NYSE:MIN) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.44 and traded as high as $2.45. MFS Intermediate Income Trust shares last traded at $2.4450, with a volume of 316,867 shares traded.

MFS Intermediate Income Trust Stock Performance

The stock’s 50-day moving average is $2.44 and its 200-day moving average is $2.48.

MFS Intermediate Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be paid a $0.02 dividend. This represents a c) annualized dividend and a dividend yield of 9.8%. The ex-dividend date is Monday, August 24th.

Institutional Trading of MFS Intermediate Income Trust

Hedge funds have recently modified their holdings of the company. Landscape Capital Management L.L.C. acquired a new position in shares of MFS Intermediate Income Trust in the 4th quarter worth approximately $34,000. Integrated Wealth Concepts LLC acquired a new position in MFS Intermediate Income Trust in the third quarter valued at about $39,000. Compound Planning Inc. bought a new position in shares of MFS Intermediate Income Trust during the fourth quarter worth $45,000. Advisory Solutions Group LLC bought a new stake in MFS Intermediate Income Trust during the 2nd quarter worth approximately $43,000. Finally, GatePass Capital LLC acquired a new position in shares of MFS Intermediate Income Trust during the first quarter worth about $65,000. Institutional investors own 50.90% of the company’s stock.

MFS Intermediate Income Trust Company Profile

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.