MFS Intermediate Income Trust (NYSE:MIN) Shares Pass Below 200-Day Moving Average – What’s Next?

MFS Intermediate Income Trust (NYSE:MIN) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.61 and traded as low as $2.46. MFS Intermediate Income Trust shares last traded at $2.4850, with a volume of 663,562 shares changing hands.

MFS Intermediate Income Trust Stock Performance

The business’s 50 day moving average price is $2.55 and its 200 day moving average price is $2.61.

MFS Intermediate Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.0192 per share. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date was Tuesday, March 17th.

Hedge Funds Weigh In On MFS Intermediate Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Compound Planning Inc. acquired a new stake in shares of MFS Intermediate Income Trust in the fourth quarter worth approximately $45,000. Cetera Investment Advisers raised its stake in MFS Intermediate Income Trust by 131.8% in the 4th quarter. Cetera Investment Advisers now owns 67,021 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 38,109 shares during the last quarter. Equitable Holdings Inc. lifted its holdings in MFS Intermediate Income Trust by 20.8% in the 4th quarter. Equitable Holdings Inc. now owns 701,847 shares of the financial services provider’s stock valued at $1,832,000 after purchasing an additional 121,083 shares in the last quarter. Osaic Holdings Inc. boosted its stake in MFS Intermediate Income Trust by 3.6% during the 4th quarter. Osaic Holdings Inc. now owns 2,107,608 shares of the financial services provider’s stock worth $5,501,000 after purchasing an additional 72,988 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in MFS Intermediate Income Trust during the 4th quarter worth $34,000. Hedge funds and other 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.