MFS Intermediate Income Trust (NYSE:MIN) Stock Price Passes Above Fifty Day Moving Average – Here’s What Happened

MFS Intermediate Income Trust (NYSE:MIN)’s stock price crossed 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.

MFS Intermediate Income Trust Trading Up 0.2%

The stock’s 50-day moving average is $2.45 and its 200-day moving average is $2.53.

MFS Intermediate Income Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.0186 per share. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date is Tuesday, June 16th.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Several large investors have recently made changes to their positions in MIN. Compound Planning Inc. raised its stake in shares of MFS Intermediate Income Trust by 49.9% in the 1st quarter. Compound Planning Inc. now owns 25,797 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 8,584 shares during the period. GatePass Capital LLC purchased a new stake in MFS Intermediate Income Trust during the 1st quarter worth $65,000. Private Advisor Group LLC increased its holdings in MFS Intermediate Income Trust by 1.5% in the 1st quarter. Private Advisor Group LLC now owns 347,425 shares of the financial services provider’s stock valued at $872,000 after purchasing an additional 5,075 shares in the last quarter. Decision Investments Inc. increased its holdings in MFS Intermediate Income Trust by 6.6% in the 1st quarter. Decision Investments Inc. now owns 163,000 shares of the financial services provider’s stock valued at $409,000 after purchasing an additional 10,100 shares in the last quarter. Finally, Evolve Private Wealth LLC purchased a new position in MFS Intermediate Income Trust in the first quarter valued at about $75,000. 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.