Short Interest in MFS Intermediate High Income Fund (NYSE:CIF) Drops By 34.8%

MFS Intermediate High Income Fund (NYSE:CIF) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 5,524 shares, a drop of 34.8% from the March 31st total of 8,478 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 72,641 shares, the days-to-cover ratio is presently 0.1 days.

MFS Intermediate High Income Fund Price Performance

NYSE CIF traded up $0.01 during trading on Thursday, reaching $1.63. The company’s stock had a trading volume of 90,923 shares, compared to its average volume of 64,809. The business has a 50-day moving average price of $1.64 and a 200-day moving average price of $1.69. MFS Intermediate High Income Fund has a 1-year low of $1.57 and a 1-year high of $1.82.

MFS Intermediate High Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, April 14th will be paid a $0.0142 dividend. The ex-dividend date is Tuesday, April 14th. This represents a c) dividend on an annualized basis and a yield of 10.5%.

Institutional Trading of MFS Intermediate High Income Fund

A number of institutional investors have recently added to or reduced their stakes in CIF. Jane Street Group LLC acquired a new stake in MFS Intermediate High Income Fund in the fourth quarter valued at approximately $31,000. Pin Oak Investment Advisors Inc. lifted its stake in MFS Intermediate High Income Fund by 107.6% in the third quarter. Pin Oak Investment Advisors Inc. now owns 165,900 shares of the company’s stock valued at $293,000 after acquiring an additional 86,000 shares during the last quarter. Finally, Sit Investment Associates Inc. lifted its stake in MFS Intermediate High Income Fund by 25.0% in the fourth quarter. Sit Investment Associates Inc. now owns 1,452,035 shares of the company’s stock valued at $2,468,000 after acquiring an additional 290,356 shares during the last quarter. 6.85% of the stock is currently owned by institutional investors and hedge funds.

About MFS Intermediate High Income Fund

MFS Intermediate High Income Fund Inc (NYSE: CIF) is a closed-end management investment company advised by MFS Investment Management, one of the oldest global asset managers headquartered in Boston, Massachusetts. The fund seeks to provide current income and capital appreciation by allocating assets primarily to intermediate?duration debt instruments. It trades on the New York Stock Exchange under the symbol CIF and offers investors exposure to a diversified portfolio of fixed-income securities.

The fund’s investment strategy emphasizes intermediate maturities, generally targeting bonds and loans with durations ranging from two to seven years.