MFS Intermediate Income Trust (NYSE:MIN) Shares Cross Above 50-Day Moving Average – Should You Sell?

MFS Intermediate Income Trust (NYSE:MIN) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.62 and traded as high as $2.62. MFS Intermediate Income Trust shares last traded at $2.6050, with a volume of 221,295 shares.

MFS Intermediate Income Trust Stock Performance

The company’s 50 day simple moving average is $2.62 and its two-hundred day simple moving average is $2.65.

MFS Intermediate Income Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.0192 per share. This represents a c) annualized dividend and a dividend yield of 8.8%. The ex-dividend date of this dividend is Tuesday, February 17th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its position in MFS Intermediate Income Trust by 6.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,232,821 shares of the financial services provider’s stock valued at $8,664,000 after buying an additional 206,565 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in MFS Intermediate Income Trust by 1,566.8% in the second quarter. Osaic Holdings Inc. now owns 2,080,926 shares of the financial services provider’s stock valued at $5,639,000 after acquiring an additional 1,956,078 shares during the last quarter. Invesco Ltd. increased its position in MFS Intermediate Income Trust by 2.5% in the third quarter. Invesco Ltd. now owns 1,150,617 shares of the financial services provider’s stock worth $3,084,000 after purchasing an additional 28,337 shares during the period. Bank of America Corp DE raised its holdings in MFS Intermediate Income Trust by 26.2% during the 3rd quarter. Bank of America Corp DE now owns 898,697 shares of the financial services provider’s stock worth $2,409,000 after purchasing an additional 186,567 shares during the last quarter. Finally, Equitable Holdings Inc. raised its holdings in MFS Intermediate Income Trust by 14.5% during the 3rd quarter. Equitable Holdings Inc. now owns 580,764 shares of the financial services provider’s stock worth $1,556,000 after purchasing an additional 73,737 shares during the last quarter. Institutional investors and hedge funds 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.