MFS Intermediate Income Trust (NYSE:MIN) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

MFS Intermediate Income Trust (NYSE:MIN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.55 and traded as low as $2.43. MFS Intermediate Income Trust shares last traded at $2.4450, with a volume of 65,421 shares traded.

MFS Intermediate Income Trust Stock Performance

The firm’s 50 day moving average is $2.46 and its 200 day moving average is $2.55.

MFS Intermediate Income Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.0186 per share. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Tuesday, June 16th.

Institutional Trading of MFS Intermediate Income Trust

Several large investors have recently bought and sold shares of MIN. Invesco Ltd. grew its position in MFS Intermediate Income Trust by 2.0% during the 2nd quarter. Invesco Ltd. now owns 1,122,280 shares of the financial services provider’s stock worth $3,041,000 after purchasing an additional 22,248 shares during the last quarter. Raymond James Financial Inc. grew its position in MFS Intermediate Income Trust by 10.9% during the 2nd quarter. Raymond James Financial Inc. now owns 132,779 shares of the financial services provider’s stock worth $360,000 after purchasing an additional 12,998 shares during the last quarter. Ameriprise Financial Inc. grew its position in MFS Intermediate Income Trust by 2.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,026,256 shares of the financial services provider’s stock worth $8,191,000 after purchasing an additional 79,470 shares during the last quarter. Bank of America Corp DE grew its position in MFS Intermediate Income Trust by 6.5% during the 2nd quarter. Bank of America Corp DE now owns 712,130 shares of the financial services provider’s stock worth $1,930,000 after purchasing an additional 43,686 shares during the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in MFS Intermediate Income Trust during the 3rd quarter worth approximately $108,000. Hedge funds and other 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.