MFS Intermediate Income Trust (NYSE:MIN) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

MFS Intermediate Income Trust (NYSE:MIN) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.55 and traded as low as $2.43. MFS Intermediate Income Trust shares last traded at $2.4450, with a volume of 65,421 shares changing hands.

MFS Intermediate Income Trust Trading Up 0.6%

The business’s fifty day moving average is $2.46 and its two-hundred day moving average is $2.55.

MFS Intermediate Income Trust Cuts Dividend

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

Institutional Investors Weigh In On MFS Intermediate Income Trust

Several large investors have recently modified their holdings of the business. Sit Investment Associates Inc. raised its stake in shares of MFS Intermediate Income Trust by 0.7% during the 4th quarter. Sit Investment Associates Inc. now owns 29,167,975 shares of the financial services provider’s stock worth $76,128,000 after acquiring an additional 213,250 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of MFS Intermediate Income Trust by 6.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,232,821 shares of the financial services provider’s stock worth $8,664,000 after acquiring an additional 206,565 shares in the last quarter. Bank of America Corp DE raised its stake in shares of 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 acquiring an additional 186,567 shares in the last quarter. Equitable Holdings Inc. raised its stake in shares of MFS Intermediate Income Trust by 20.8% during the 4th quarter. Equitable Holdings Inc. now owns 701,847 shares of the financial services provider’s stock worth $1,832,000 after acquiring an additional 121,083 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of MFS Intermediate Income Trust by 31.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 305,198 shares of the financial services provider’s stock worth $818,000 after acquiring an additional 73,627 shares in the last quarter. 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.