MFS Intermediate Income Trust (NYSE:MIN) Hits New 1-Year High – What’s Next?

MFS Intermediate Income Trust (NYSE:MIN)’s share price reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as $13.68 and last traded at $13.8650, with a volume of 267 shares traded. The stock had previously closed at $2.31.

MFS Intermediate Income Trust Price Performance

The stock’s 50 day moving average price is $2.39 and its 200 day moving average price is $2.43.

MFS Intermediate Income Trust Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd were issued a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a yield of 10.5%. The ex-dividend date was Tuesday, September 22nd. This is an increase from MFS Intermediate Income Trust’s previous monthly dividend of $0.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sit Investment Associates Inc. boosted its position 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 valued at $76,128,000 after purchasing an additional 213,250 shares in the last quarter. GatePass Capital LLC increased its holdings in MFS Intermediate Income Trust by 2,212.3% in the second quarter. GatePass Capital LLC now owns 601,200 shares of the financial services provider’s stock worth $1,485,000 after purchasing an additional 575,200 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of MFS Intermediate Income Trust by 1.5% during the 1st quarter. Private Advisor Group LLC now owns 347,425 shares of the financial services provider’s stock worth $872,000 after buying an additional 5,075 shares in the last quarter. Ameritas Advisory Services LLC grew its position in shares of MFS Intermediate Income Trust by 24.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 333,668 shares of the financial services provider’s stock worth $824,000 after buying an additional 65,151 shares during the period. Finally, Decision Investments Inc. grew its position in shares of MFS Intermediate Income Trust by 6.6% during the 1st quarter. Decision Investments Inc. now owns 163,000 shares of the financial services provider’s stock worth $409,000 after buying an additional 10,100 shares during the period. 50.90% of the stock is owned by institutional investors and hedge funds.

MFS Intermediate Income Trust Company Profile

MFS Intermediate Income Trust (NYSE:MIN) is a closed-end investment company managed by MFS Investment Management. The fund seeks to provide a high level of current income while also pursuing prudent investment management and preservation of capital.

The trust invests primarily in a diversified portfolio of fixed-income securities. Its holdings may include U.S. and foreign government and corporate bonds, mortgage- and asset-backed securities, and other debt instruments. The portfolio may also include below-investment-grade securities, which can provide additional income but involve greater credit risk.

MFS Intermediate Income Trust gives investors exposure to debt markets in the United States and other countries through a professionally managed portfolio.