MFS Intermediate Income Trust (NYSE:MIN) Stock Price Crosses Below Fifty Day Moving Average – Here’s What Happened

MFS Intermediate Income Trust (NYSE:MIN) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.45 and traded as low as $2.45. MFS Intermediate Income Trust shares last traded at $2.4550, with a volume of 157,433 shares trading hands.

MFS Intermediate Income Trust Stock Performance

The company has a 50 day moving average of $2.45 and a 200 day moving average of $2.52.

MFS Intermediate Income Trust Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.0186 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%.

Hedge Funds Weigh In On MFS Intermediate Income Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Sit Investment Associates Inc. raised its holdings in MFS Intermediate Income Trust by 0.7% during the 4th quarter. Sit Investment Associates Inc. now owns 29,167,975 shares of the financial services provider’s stock worth $76,128,000 after buying an additional 213,250 shares during the period. Ameriprise Financial Inc. boosted its holdings 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 valued at $8,664,000 after buying an additional 206,565 shares during the period. Osaic Holdings Inc. increased its position in shares of MFS Intermediate Income Trust by 3.6% during 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 in 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 acquiring an additional 28,337 shares in the last quarter. Finally, LPL Financial LLC raised its holdings 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 acquiring an additional 17,289 shares during the period. 50.90% of the stock is currently owned by institutional investors and hedge funds.

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.