MFS Intermediate Income Trust (NYSE:MIN) Shares Pass Above Fifty Day Moving Average – What’s Next?

MFS Intermediate Income Trust (NYSE:MINGet Free Report)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.44 and traded as high as $2.44. MFS Intermediate Income Trust shares last traded at $2.4250, with a volume of 277,117 shares traded.

MFS Intermediate Income Trust Stock Performance

The firm’s 50 day moving average is $2.44 and its 200 day moving average is $2.49.

MFS Intermediate Income Trust Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd were given a dividend of $0.02 per share. This is an increase from MFS Intermediate Income Trust’s previous monthly dividend of $0.02. The ex-dividend date was Thursday, July 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Several large investors have recently added to or reduced their stakes in MIN. Invesco Ltd. grew its position in MFS Intermediate Income Trust by 2.0% during the second quarter. Invesco Ltd. now owns 1,122,280 shares of the financial services provider’s stock worth $3,041,000 after buying an additional 22,248 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of MFS Intermediate Income Trust by 10.9% in the 2nd quarter. Raymond James Financial Inc. now owns 132,779 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 12,998 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of MFS Intermediate Income Trust by 2.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,026,256 shares of the financial services provider’s stock valued at $8,191,000 after acquiring an additional 79,470 shares during the last quarter. Bank of America Corp DE boosted its position in shares of MFS Intermediate Income Trust by 6.5% during the 2nd quarter. Bank of America Corp DE now owns 712,130 shares of the financial services provider’s stock valued at $1,930,000 after acquiring an additional 43,686 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of MFS Intermediate Income Trust by 8.3% during the 3rd quarter. Private Advisor Group LLC now owns 314,850 shares of the financial services provider’s stock valued at $844,000 after acquiring an additional 24,150 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.

Further Reading

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