MFS Intermediate Income Trust (NYSE:MIN) Share Price Breaks Below 50 Day Moving Average – Should You Sell?

MFS Intermediate Income Trust (NYSE:MIN)’s share price crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $14.07 and traded as low as $14.02. MFS Intermediate Income Trust shares last traded at $14.0410, with a volume of 17,954 shares.

MFS Intermediate Income Trust Stock Down 0.5%

The firm’s 50 day simple moving average is $14.04 and its two-hundred day simple moving average is $14.67.

MFS Intermediate Income Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be given a $0.11 dividend. The ex-dividend date is Friday, November 20th. This is a negative change from MFS Intermediate Income Trust’s previous monthly dividend of $0.12. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.5%.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Several institutional investors have recently made changes to their positions in MIN. Compound Planning Inc. lifted its position in shares of MFS Intermediate Income Trust by 49.9% during 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. Advisory Solutions Group LLC bought a new position in shares of MFS Intermediate Income Trust in the second quarter worth $43,000. GatePass Capital LLC bought a new position in shares of MFS Intermediate Income Trust in the first quarter worth $65,000. Ameritas Advisory Services LLC increased its position in shares of MFS Intermediate Income Trust by 24.3% in the second quarter. Ameritas Advisory Services LLC now owns 333,668 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 65,151 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in MFS Intermediate Income Trust by 3.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,281,075 shares of the financial services provider’s stock valued at $9,932,000 after purchasing an additional 146,117 shares in the last quarter. 50.90% of the stock is currently owned by institutional investors.

About MFS Intermediate Income Trust

MFS Intermediate Income Trust is a closed-end investment fund that seeks to provide a high level of current income. Its investment objective also allows for capital appreciation as a secondary consideration. The fund invests primarily in debt securities, including bonds issued by companies and governments. Its portfolio may include securities from U.S. and non-U.S. issuers, giving it exposure to fixed-income markets across multiple geographies. MFS Investment Management serves as the fund’s investment adviser.