MFS Intermediate Income Trust (NYSE:MIN) Short Interest Update

MFS Intermediate Income Trust (NYSE:MIN) saw a large growth in short interest in June. As of June 15th, there was short interest totaling 501,072 shares, a growth of 126.9% from the May 31st total of 220,822 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 173,351 shares, the days-to-cover ratio is currently 2.9 days.

Hedge Funds Weigh In On MFS Intermediate Income Trust

A number of institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. purchased a new position in shares of MFS Intermediate Income Trust in the fourth quarter worth about $34,000. Integrated Wealth Concepts LLC bought a new position in MFS Intermediate Income Trust in the third quarter worth about $39,000. Compound Planning Inc. purchased a new stake in MFS Intermediate Income Trust in the fourth quarter worth $45,000. GatePass Capital LLC bought a new position in shares of MFS Intermediate Income Trust in the 1st quarter worth about $65,000. Finally, Benjamin Edwards Inc. lifted its holdings in shares of MFS Intermediate Income Trust by 34.7% during the fourth quarter. Benjamin Edwards Inc. now owns 27,170 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 7,000 shares during the last quarter. Institutional investors own 50.90% of the company’s stock.

MFS Intermediate Income Trust Stock Down 0.6%

Shares of NYSE:MIN traded down $0.01 during mid-day trading on Tuesday, hitting $2.44. 233,746 shares of the company traded hands, compared to its average volume of 145,959. The stock has a 50-day moving average price of $2.45 and a two-hundred day moving average price of $2.53. MFS Intermediate Income Trust has a 12-month low of $2.41 and a 12-month high of $2.72.

MFS Intermediate Income Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.0186 per share. 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%.

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.