Insider Buying: MFS Intermediate Income Trust (NYSE:MIN) Director Purchases $10,956.00 in Stock

MFS Intermediate Income Trust (NYSE:MINGet Free Report) Director Todd Reit bought 4,400 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was acquired at an average cost of $2.49 per share, with a total value of $10,956.00. Following the completion of the transaction, the director directly owned 4,400 shares of the company’s stock, valued at approximately $10,956. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

MFS Intermediate Income Trust Stock Performance

MFS Intermediate Income Trust stock opened at $2.40 on Friday. MFS Intermediate Income Trust has a 1-year low of $2.39 and a 1-year high of $2.72. The firm’s fifty day simple moving average is $2.44 and its 200-day simple moving average is $2.50.

MFS Intermediate Income Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd will be issued a dividend of $0.02 per share. This represents a c) annualized dividend and a yield of 10.0%. This is an increase from MFS Intermediate Income Trust’s previous monthly dividend of $0.02. The ex-dividend date is Thursday, July 23rd.

Institutional Trading of MFS Intermediate Income Trust

Several large investors have recently made changes to their positions in MIN. Sit Investment Associates Inc. raised its stake in shares of MFS Intermediate Income Trust by 0.7% in the 4th quarter. Sit Investment Associates Inc. now owns 29,167,975 shares of the financial services provider’s stock valued at $76,128,000 after acquiring an additional 213,250 shares in the last quarter. Stephens Inc. AR boosted its position in MFS Intermediate Income Trust by 3.3% during the fourth 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 during the period. Benjamin Edwards Inc. boosted its position in 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 worth $71,000 after purchasing an additional 7,000 shares during the period. Shaker Financial Services LLC grew its holdings in MFS Intermediate Income Trust by 55.3% during the fourth quarter. Shaker Financial Services LLC now owns 134,091 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 47,741 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in MFS Intermediate Income Trust by 167.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 61,848 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 38,725 shares during 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.

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