MFS Intermediate Income Trust (NYSE:MIN) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

MFS Intermediate Income Trust (NYSE:MIN) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.55 and traded as low as $2.43. MFS Intermediate Income Trust shares last traded at $2.4450, with a volume of 65,421 shares.

MFS Intermediate Income Trust Price Performance

The firm has a fifty day moving average of $2.46 and a 200-day moving average of $2.54.

MFS Intermediate Income Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.0186 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a c) annualized dividend and a yield of 9.1%.

Institutional Trading of MFS Intermediate Income Trust

Hedge funds have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. bought a new stake in MFS Intermediate Income Trust during the 4th quarter valued at $34,000. Integrated Wealth Concepts LLC bought a new stake in MFS Intermediate Income Trust during the 3rd quarter valued at $39,000. Compound Planning Inc. bought a new stake in MFS Intermediate Income Trust during the 4th quarter valued at $45,000. GatePass Capital LLC bought a new stake in MFS Intermediate Income Trust during the 1st quarter valued at $65,000. Finally, Benjamin Edwards Inc. raised its stake in MFS Intermediate Income Trust by 34.7% during the 4th 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 in the last quarter. Institutional investors own 50.90% of the company’s stock.

MFS Intermediate Income Trust Company Profile

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.