MFS Intermediate Income Trust (NYSE:MIN) Shares to Reverse Split on Thursday, October 8th

MFS Intermediate Income Trust (NYSE:MIN) shares are scheduled to reverse split before the market opens on Thursday, October 8th. The 1-6 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, October 7th.

MFS Intermediate Income Trust Stock Performance

Shares of NYSE:MIN opened at $2.31 on Wednesday. The firm’s 50 day moving average is $2.41 and its two-hundred day moving average is $2.44. MFS Intermediate Income Trust has a 52 week low of $2.30 and a 52 week high of $2.68.

MFS Intermediate Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be given a dividend of $0.02 per share. The ex-dividend date is Tuesday, September 22nd. This represents a $0.24 annualized dividend and a dividend yield of 10.4%.

Institutional Trading of MFS Intermediate Income Trust

Several hedge funds have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC increased its holdings in shares of MFS Intermediate Income Trust by 24.3% during the second quarter. Ameritas Advisory Services LLC now owns 333,668 shares of the financial services provider’s stock valued at $824,000 after purchasing an additional 65,151 shares during the period. Advisory Solutions Group LLC acquired a new stake in MFS Intermediate Income Trust in the second quarter worth about $43,000. GatePass Capital LLC lifted its holdings in MFS Intermediate Income Trust by 2,212.3% in the second quarter. GatePass Capital LLC now owns 601,200 shares of the financial services provider’s stock worth $1,485,000 after purchasing an additional 575,200 shares during the period. Compound Planning Inc. grew its position in MFS Intermediate Income Trust by 49.9% in the 1st quarter. Compound Planning Inc. now owns 25,797 shares of the financial services provider’s stock valued at $65,000 after buying an additional 8,584 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in MFS Intermediate Income Trust by 1.5% in the 1st quarter. Private Advisor Group LLC now owns 347,425 shares of the financial services provider’s stock valued at $872,000 after buying an additional 5,075 shares in the last quarter. Institutional investors own 50.90% of the company’s stock.

About MFS Intermediate Income Trust

MFS Intermediate Income Trust (NYSE:MIN) is a closed-end management investment company that seeks to provide high current income while maintaining prudent portfolio diversification. The fund invests primarily in fixed-income securities, including government and corporate bonds, mortgage-backed securities, asset-backed securities and other debt instruments.

The portfolio may include securities issued by companies and governments in the United States and other countries. MFS Investment Management serves as the fund’s investment adviser and manages the portfolio using research and credit analysis to identify income-producing opportunities across intermediate-term debt markets.

MFS Intermediate Income Trust is part of the MFS family of investment products, which has a long history of managing mutual funds and other investment vehicles.