MFS Intermediate Income Trust (NYSE:MIN) Stock Passes Above Fifty Day Moving Average – Should You Sell?

MFS Intermediate Income Trust (NYSE:MIN)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.68 and traded as high as $2.68. MFS Intermediate Income Trust shares last traded at $2.67, with a volume of 187,700 shares.

MFS Intermediate Income Trust Price Performance

The business has a 50 day moving average price of $2.68 and a 200 day moving average price of $2.68.

MFS Intermediate Income Trust Increases Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $0.0195 per share. This represents a c) dividend on an annualized basis and a yield of 8.8%. This is a boost from MFS Intermediate Income Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend was Tuesday, September 16th.

Institutional Investors Weigh In On MFS Intermediate Income Trust

A number of institutional investors have recently added to or reduced their stakes in MIN. Osaic Holdings Inc. boosted its stake in MFS Intermediate Income Trust by 1,566.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,080,926 shares of the financial services provider’s stock worth $5,639,000 after purchasing an additional 1,956,078 shares during the period. LPL Financial LLC boosted its stake in MFS Intermediate Income Trust by 106.4% in the 1st quarter. LPL Financial LLC now owns 840,907 shares of the financial services provider’s stock worth $2,262,000 after purchasing an additional 433,432 shares during the period. M Holdings Securities Inc. acquired a new position in MFS Intermediate Income Trust in the 2nd quarter worth $703,000. Advisors Asset Management Inc. acquired a new position in MFS Intermediate Income Trust in the 2nd quarter worth $628,000. Finally, Sit Investment Associates Inc. boosted its stake in MFS Intermediate Income Trust by 0.8% in the 1st quarter. Sit Investment Associates Inc. now owns 24,419,462 shares of the financial services provider’s stock worth $65,688,000 after purchasing an additional 186,567 shares during the period. 50.90% of the stock is owned by institutional investors and hedge funds.

MFS Intermediate Income Trust Company Profile

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.