MFS Intermediate High Income Fund (NYSE:CIF) Trading Down 0.9% – Should You Sell?

MFS Intermediate High Income Fund (NYSE:CIF) shares fell 0.9% during trading on Thursday . The company traded as low as $1.71 and last traded at $1.72. 119,748 shares were traded during trading, an increase of 145% from the average session volume of 48,832 shares. The stock had previously closed at $1.7350.

MFS Intermediate High Income Fund Stock Performance

The business has a 50 day moving average of $1.76 and a 200 day moving average of $1.73.

MFS Intermediate High Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 14th will be paid a dividend of $0.0148 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a c) annualized dividend and a dividend yield of 10.3%. This is an increase from MFS Intermediate High Income Fund’s previous monthly dividend of $0.01.

Institutional Trading of MFS Intermediate High Income Fund

A number of hedge funds have recently bought and sold shares of CIF. Atria Wealth Solutions Inc. purchased a new position in shares of MFS Intermediate High Income Fund during the 1st quarter worth $25,000. Kovack Advisors Inc. purchased a new stake in shares of MFS Intermediate High Income Fund in the second quarter valued at $27,000. Finally, Sit Investment Associates Inc. grew its position in shares of MFS Intermediate High Income Fund by 4.1% in the first quarter. Sit Investment Associates Inc. now owns 1,126,563 shares of the company’s stock valued at $1,926,000 after purchasing an additional 44,477 shares during the period. Institutional investors and hedge funds own 6.85% of the company’s stock.

MFS Intermediate High Income Fund Company Profile

MFS Intermediate High Income Fund is a closed ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets of the United States. It primarily invests in high income debt instruments. The fund benchmarks the performance of its portfolio against Barclays U.S.