MFS Intermediate Income Trust (NYSE:MIN) Announces Dividend Increase – $0.02 Per Share

MFS Intermediate Income Trust (NYSE:MIN) announced a monthly dividend on Friday, July 10th. Investors of record on Thursday, July 23rd will be given a dividend of 0.02 per share by the financial services provider on Friday, July 31st. This represents a c) annualized dividend and a yield of 9.7%. The ex-dividend date of this dividend is Thursday, July 23rd. This is a 7.4% increase from MFS Intermediate Income Trust’s previous monthly dividend of $0.02.

MFS Intermediate Income Trust Stock Performance

Shares of NYSE MIN opened at $2.46 on Tuesday. The stock’s 50-day simple moving average is $2.45 and its two-hundred day simple moving average is $2.51. MFS Intermediate Income Trust has a twelve month low of $2.41 and a twelve month high of $2.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. purchased a new stake in MFS Intermediate Income Trust during the fourth quarter valued at about $34,000. Integrated Wealth Concepts LLC bought a new stake in MFS Intermediate Income Trust in the 3rd quarter worth approximately $39,000. Compound Planning Inc. purchased a new stake in MFS Intermediate Income Trust in the fourth quarter worth approximately $45,000. GatePass Capital LLC bought a new position in MFS Intermediate Income Trust during the first quarter valued at approximately $65,000. Finally, Benjamin Edwards Inc. grew 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 valued at $71,000 after acquiring an additional 7,000 shares during the last quarter. 50.90% of the stock is currently owned by hedge funds and other institutional investors.

About MFS Intermediate Income Trust

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.