MFS Intermediate Income Trust (NYSE:MIN) Shares Shorted: Short Interest Down 73.7% in October

MFS Intermediate Income Trust (NYSE:MIN) saw a significant decrease in short interest in October. As of October 15th, there was short interest totaling 44,730 shares, a decrease of 73.7% from the September 30th total of 170,317 shares. Based on an average trading volume of 43,521 shares, the short-interest ratio is presently 1.0 days. Approximately 0.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MIN. GatePass Capital LLC increased its stake in MFS Intermediate Income Trust by 2,212.3% during the 2nd quarter. GatePass Capital LLC now owns 601,200 shares of the financial services provider’s stock worth $1,485,000 after buying an additional 575,200 shares during the period. Private Advisor Group LLC boosted 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 during the last quarter. Ameritas Advisory Services LLC boosted its position in MFS Intermediate Income Trust by 24.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 333,668 shares of the financial services provider’s stock valued at $824,000 after buying an additional 65,151 shares during the last quarter. Compound Planning Inc. grew its stake in shares of MFS Intermediate Income Trust by 49.9% during the first 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 in the last quarter. Finally, Advisory Solutions Group LLC acquired a new stake in shares of MFS Intermediate Income Trust during the second quarter valued at about $43,000. 50.90% of the stock is currently owned by hedge funds and other institutional investors.

MFS Intermediate Income Trust Stock Down 0.2%

NYSE MIN traded down $0.03 during trading hours on Wednesday, hitting $13.92. The company had a trading volume of 23,574 shares, compared to its average volume of 39,918. The firm’s 50 day moving average is $14.19 and its 200 day moving average is $14.78. MFS Intermediate Income Trust has a fifty-two week low of $13.61 and a fifty-two week high of $16.02.

MFS Intermediate Income Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be issued a $0.12 dividend. The ex-dividend date is Friday, October 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 10.3%. This is a drop from MFS Intermediate Income Trust’s previous monthly dividend of $0.12.

About MFS Intermediate Income Trust

MFS Intermediate Income Trust (NYSE:MIN) is a closed-end investment company managed by MFS Investment Management. The fund seeks to provide a high level of current income while also pursuing preservation of capital as a secondary objective.

The trust invests primarily in a diversified portfolio of fixed-income securities, including government and corporate bonds, mortgage- and asset-backed securities, and other debt instruments. Its holdings may include both investment-grade and below-investment-grade securities issued by U.S.