MFS Intermediate Income Trust (NYSE:MIN) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

MFS Intermediate Income Trust (NYSE:MIN)’s stock price passed 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 Trading Up 0.6%

The business’s fifty day moving average price is $2.45 and its 200 day moving average price is $2.51.

MFS Intermediate Income Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd will be issued a dividend of $0.02 per share. This represents a c) annualized dividend and a dividend yield of 9.7%. This is a positive change 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 hedge funds and other institutional investors have recently added to or reduced their stakes in MIN. Sit Investment Associates Inc. grew its stake in MFS Intermediate Income Trust by 0.7% during 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 during the period. Ameriprise Financial Inc. boosted its position in 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 worth $8,664,000 after purchasing an additional 206,565 shares during the period. Bank of America Corp DE increased its holdings in MFS Intermediate Income Trust by 26.2% in the 3rd quarter. Bank of America Corp DE now owns 898,697 shares of the financial services provider’s stock valued at $2,409,000 after purchasing an additional 186,567 shares in the last quarter. Equitable Holdings Inc. lifted its stake in shares of MFS Intermediate Income Trust by 20.8% during the fourth quarter. Equitable Holdings Inc. now owns 701,847 shares of the financial services provider’s stock worth $1,832,000 after purchasing an additional 121,083 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of MFS Intermediate Income Trust by 3.6% in the fourth quarter. Osaic Holdings Inc. now owns 2,107,608 shares of the financial services provider’s stock worth $5,501,000 after buying an additional 72,988 shares during the period. Hedge funds and other institutional investors own 50.90% of the company’s stock.

MFS Intermediate Income Trust Company Profile

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.