MFS Intermediate Income Trust (NYSE:MIN) Stock Crosses Below 50 Day Moving Average – Should You Sell?

MFS Intermediate Income Trust (NYSE:MINGet Free Report)’s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.47 and traded as low as $2.43. MFS Intermediate Income Trust shares last traded at $2.44, with a volume of 189,709 shares.

MFS Intermediate Income Trust Stock Performance

The business has a 50 day moving average price of $2.47 and a 200-day moving average price of $2.56.

MFS Intermediate Income Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.0188 per share. The ex-dividend date is Tuesday, May 19th. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%.

Institutional Investors Weigh In On MFS Intermediate Income Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Stephens Inc. AR raised its stake in shares of MFS Intermediate Income Trust by 3.3% during the 4th quarter. Stephens Inc. AR now owns 124,255 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 4,000 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of MFS Intermediate Income Trust by 1.5% during the 1st quarter. Private Advisor Group LLC now owns 347,425 shares of the financial services provider’s stock worth $872,000 after purchasing an additional 5,075 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of MFS Intermediate Income Trust by 34.7% during the 4th quarter. Benjamin Edwards Inc. now owns 27,170 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 7,000 shares in the last quarter. Compound Planning Inc. raised its stake in shares of MFS Intermediate Income Trust by 49.9% during the 1st quarter. Compound Planning Inc. now owns 25,797 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 8,584 shares in the last quarter. Finally, Ameritas Advisory Services LLC raised its stake in shares of MFS Intermediate Income Trust by 2.8% during the 3rd quarter. Ameritas Advisory Services LLC now owns 336,073 shares of the financial services provider’s stock worth $901,000 after purchasing an additional 9,108 shares in the last quarter. Institutional investors own 50.90% of the company’s stock.

MFS Intermediate Income Trust Company Profile

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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.

Further Reading

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