MFS Intermediate Income Trust (NYSE:MIN) Share Price Crosses Above 50 Day Moving Average – Here’s Why

MFS Intermediate Income Trust (NYSE:MINGet Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.45 and traded as high as $2.47. MFS Intermediate Income Trust shares last traded at $2.4650, with a volume of 105,202 shares trading hands.

MFS Intermediate Income Trust Stock Up 0.6%

The business has a fifty day moving average price of $2.45 and a 200-day moving average price of $2.51.

MFS Intermediate Income Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 23rd will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a c) annualized dividend and a dividend yield of 9.7%. This is an increase from MFS Intermediate Income Trust’s previous monthly dividend of $0.02.

Hedge Funds Weigh In On MFS Intermediate Income Trust

A number of large investors have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. bought a new stake in MFS Intermediate Income Trust in the fourth quarter worth $34,000. Integrated Wealth Concepts LLC bought a new stake in MFS Intermediate Income Trust in the third quarter valued at approximately $39,000. Compound Planning Inc. bought a new stake in MFS Intermediate Income Trust in the fourth quarter valued at approximately $45,000. GatePass Capital LLC purchased a new stake in shares of MFS Intermediate Income Trust during the first quarter valued at approximately $65,000. Finally, Benjamin Edwards Inc. boosted its stake in shares of MFS Intermediate Income Trust by 34.7% during the fourth quarter. Benjamin Edwards Inc. now owns 27,170 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 7,000 shares during the period. Hedge funds and other institutional investors own 50.90% of the company’s stock.

About MFS Intermediate Income Trust

(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.

Further Reading

Receive News & Ratings for MFS Intermediate Income Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MFS Intermediate Income Trust and related companies with MarketBeat.com's FREE daily email newsletter.