MFS Intermediate Income Trust (NYSE:MIN) Sees Large Decline in Short Interest

MFS Intermediate Income Trust (NYSE:MIN) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 227,728 shares, a decline of 36.4% from the August 31st total of 358,020 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 299,783 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Trading of MFS Intermediate Income Trust

A number of hedge funds have recently made changes to their positions in MIN. Private Advisor Group LLC boosted its stake in shares of MFS Intermediate Income Trust by 1.5% during the 1st quarter. Private Advisor Group LLC now owns 347,425 shares of the financial services provider’s stock worth $872,000 after acquiring an additional 5,075 shares during the period. Compound Planning Inc. raised its stake 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 acquiring an additional 8,584 shares during the period. Decision Investments Inc. lifted its holdings in MFS Intermediate Income Trust by 6.6% during the 1st quarter. Decision Investments Inc. now owns 163,000 shares of the financial services provider’s stock valued at $409,000 after purchasing an additional 10,100 shares during the last quarter. Advisory Solutions Group LLC bought a new position in MFS Intermediate Income Trust during the second quarter worth $43,000. Finally, GatePass Capital LLC acquired a new stake in shares of MFS Intermediate Income Trust during the 1st quarter worth about $65,000. 50.90% of the stock is owned by institutional investors and hedge funds.

MFS Intermediate Income Trust Price Performance

Shares of MIN opened at $2.33 on Thursday. The firm has a 50-day moving average of $2.40 and a 200-day moving average of $2.44. MFS Intermediate Income Trust has a one year low of $2.30 and a one year high of $2.68.

Shares of MFS Intermediate Income Trust are scheduled to reverse split on the morning of 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 Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd were given a dividend of $0.02 per share. This represents a $0.24 dividend on an annualized basis and a yield of 10.3%. The ex-dividend date of this dividend was Tuesday, September 22nd.

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.