MFS Intermediate Income Trust (NYSE:MIN) Shares Pass Above Fifty Day Moving Average – What’s Next?

Shares of MFS Intermediate Income Trust (NYSE:MIN) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.45 and traded as high as $2.46. MFS Intermediate Income Trust shares last traded at $2.4350, with a volume of 126,602 shares traded.

MFS Intermediate Income Trust Stock Performance

The business has a 50-day moving average price of $2.45 and a 200-day moving average price of $2.53.

MFS Intermediate Income Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.0186 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a c) dividend on an annualized basis and a yield of 9.1%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. bought a new stake in shares of MFS Intermediate Income Trust in the 4th quarter valued at about $34,000. Integrated Wealth Concepts LLC bought a new position in shares of MFS Intermediate Income Trust during the third quarter valued at approximately $39,000. Compound Planning Inc. bought a new position in shares of MFS Intermediate Income Trust during the fourth quarter valued at approximately $45,000. GatePass Capital LLC purchased a new position in MFS Intermediate Income Trust during the first quarter valued at approximately $65,000. Finally, Benjamin Edwards Inc. raised its stake in MFS Intermediate Income Trust by 34.7% in the fourth quarter. Benjamin Edwards Inc. now owns 27,170 shares of the financial services provider’s stock worth $71,000 after buying an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 50.90% of the company’s stock.

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.