MFS Intermediate Income Trust (NYSE:MIN) Stock Passes Above 50-Day Moving Average – Should You Sell?

MFS Intermediate Income Trust (NYSE:MIN) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.44 and traded as high as $2.44. MFS Intermediate Income Trust shares last traded at $2.4250, with a volume of 277,117 shares.

MFS Intermediate Income Trust Price Performance

The firm has a fifty day simple moving average of $2.44 and a 200 day simple moving average of $2.49.

MFS Intermediate Income Trust Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 23rd were issued a $0.02 dividend. This represents a c) annualized dividend and a yield of 9.9%. The ex-dividend date of this dividend was Thursday, July 23rd. This is a boost from MFS Intermediate Income Trust’s previous monthly dividend of $0.02.

Hedge Funds Weigh In On MFS Intermediate Income Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. lifted its stake in MFS Intermediate Income Trust by 0.7% in the 4th quarter. Sit Investment Associates Inc. now owns 29,167,975 shares of the financial services provider’s stock valued at $76,128,000 after buying an additional 213,250 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of MFS Intermediate Income Trust by 6.8% in the third quarter. Ameriprise Financial Inc. now owns 3,232,821 shares of the financial services provider’s stock worth $8,664,000 after acquiring an additional 206,565 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of MFS Intermediate Income Trust by 3.6% in the fourth quarter. Osaic Holdings Inc. now owns 2,107,608 shares of the financial services provider’s stock worth $5,501,000 after acquiring an additional 72,988 shares during the last quarter. Invesco Ltd. increased its position in shares of MFS Intermediate Income Trust by 2.5% during the third quarter. Invesco Ltd. now owns 1,150,617 shares of the financial services provider’s stock worth $3,084,000 after purchasing an additional 28,337 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of MFS Intermediate Income Trust by 1.7% during the fourth quarter. LPL Financial LLC now owns 1,048,765 shares of the financial services provider’s stock worth $2,737,000 after purchasing an additional 17,289 shares in the last quarter. 50.90% of the stock is owned by hedge funds and other institutional investors.

About MFS Intermediate Income Trust

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.