MFS Intermediate Income Trust (NYSE:MIN) Short Interest Up 55.4% in July

MFS Intermediate Income Trust (NYSE:MIN) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totalling 155,900 shares, an increase of 55.4% from the July 15th total of 100,300 shares. Based on an average daily trading volume, of 179,700 shares, the days-to-cover ratio is currently 0.9 days.

MFS Intermediate Income Trust Stock Up 0.6 %

Shares of NYSE:MIN traded up $0.02 on Friday, hitting $2.72. The company had a trading volume of 112,453 shares, compared to its average volume of 257,291. The business has a 50 day moving average of $2.67 and a 200 day moving average of $2.67. MFS Intermediate Income Trust has a 52-week low of $2.52 and a 52-week high of $2.85.

MFS Intermediate Income Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 13th will be issued a $0.02 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.24 dividend on an annualized basis and a yield of 8.82%.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Choreo LLC acquired a new position in MFS Intermediate Income Trust in the second quarter valued at $73,000. Nomura Holdings Inc. purchased a new position in shares of MFS Intermediate Income Trust during the 4th quarter worth about $76,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of MFS Intermediate Income Trust by 15.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 46,776 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 6,298 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in MFS Intermediate Income Trust in the fourth quarter valued at approximately $129,000. Finally, Dakota Wealth Management grew its holdings in MFS Intermediate Income Trust by 72.5% in the second quarter. Dakota Wealth Management now owns 71,700 shares of the financial services provider’s stock valued at $191,000 after purchasing an additional 30,125 shares during the period. 50.90% of the stock is currently owned by hedge funds and other institutional investors.

MFS Intermediate Income Trust Company Profile

MFS Intermediate Income Trust is a closed ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets across the globe. It primarily invests in debt instruments. The fund seeks to benchmarks the performance of its portfolio against the Barclays Intermediate U.S.