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

Shares of MFS Intermediate Income Trust (NYSE:MIN) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.68 and traded as low as $2.65. MFS Intermediate Income Trust shares last traded at $2.66, with a volume of 129,318 shares trading hands.

MFS Intermediate Income Trust Trading Down 0.2%

The stock’s 50 day simple moving average is $2.68 and its 200 day simple moving average is $2.67.

MFS Intermediate Income Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 14th will be issued a $0.0195 dividend. This is a boost from MFS Intermediate Income Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%.

Hedge Funds Weigh In On MFS Intermediate Income Trust

Several large investors have recently bought and sold shares of MIN. Osaic Holdings Inc. boosted its position in shares of MFS Intermediate Income Trust by 1,566.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,080,926 shares of the financial services provider’s stock valued at $5,639,000 after purchasing an additional 1,956,078 shares in the last quarter. Bank of America Corp DE increased its position in MFS Intermediate Income Trust by 6.5% during the second quarter. Bank of America Corp DE now owns 712,130 shares of the financial services provider’s stock worth $1,930,000 after acquiring an additional 43,686 shares during the period. Ameriprise Financial Inc. boosted its stake in MFS Intermediate Income Trust by 2.7% during the second quarter. Ameriprise Financial Inc. now owns 3,026,256 shares of the financial services provider’s stock worth $8,191,000 after buying an additional 79,470 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of MFS Intermediate Income Trust by 10.9% in the 2nd quarter. Raymond James Financial Inc. now owns 132,779 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 12,998 shares in the last quarter. Finally, M Holdings Securities Inc. acquired a new stake in shares of MFS Intermediate Income Trust in the 2nd quarter valued at $703,000. Institutional investors and hedge funds own 50.90% of the company’s stock.

About MFS Intermediate Income Trust

MFS Intermediate Income Trust is a closed ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets across the globe. It primarily invests in debt instruments. The fund seeks to benchmarks the performance of its portfolio against the Barclays Intermediate U.S.