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

MFS Intermediate Income Trust (NYSE:MIN – Get Free Report) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 501,072 shares, an increase of 126.9% from the May 31st total of 220,822 shares. Based on an average daily volume of 173,351 shares, the days-to-cover ratio is currently 2.9 days. Currently, 0.4% of the shares of the stock are sold short.

MFS Intermediate Income Trust Stock Performance

Shares of MFS Intermediate Income Trust stock traded up $0.01 on Monday, hitting $2.46. 120,774 shares of the company traded hands, compared to its average volume of 258,427. MFS Intermediate Income Trust has a 12-month low of $2.41 and a 12-month high of $2.72. The firm’s 50-day simple moving average is $2.45 and its 200 day simple moving average is $2.53.

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MFS Intermediate Income Trust Cuts Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a c) annualized dividend and a yield of 9.1%.

Hedge Funds Weigh In On MFS Intermediate Income Trust

A number of large investors have recently modified their holdings of the company. Sit Investment Associates Inc. boosted its stake in MFS Intermediate Income Trust by 0.7% in the fourth quarter. Sit Investment Associates Inc. now owns 29,167,975 shares of the financial services provider’s stock worth $76,128,000 after buying an additional 213,250 shares in the last quarter. Ameriprise Financial Inc. grew its holdings 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 valued at $8,664,000 after purchasing an additional 206,565 shares during the last quarter. Osaic Holdings Inc. raised its position in MFS Intermediate Income Trust by 3.6% in the 4th quarter. Osaic Holdings Inc. now owns 2,107,608 shares of the financial services provider’s stock worth $5,501,000 after purchasing an additional 72,988 shares during the period. Invesco Ltd. raised its position in MFS Intermediate Income Trust by 2.5% in the 3rd 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. Finally, LPL Financial LLC lifted its stake in MFS Intermediate Income Trust by 1.7% in the fourth quarter. LPL Financial LLC now owns 1,048,765 shares of the financial services provider’s stock worth $2,737,000 after purchasing an additional 17,289 shares during the last quarter. 50.90% of the stock is owned by hedge funds and other institutional investors.

MFS Intermediate Income Trust Company Profile

(Get Free Report)

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.

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