MFS Intermediate High Income Fund (NYSE:CIF) Shares Up 0.3% – Time to Buy?

MFS Intermediate High Income Fund (NYSE:CIF) shares shot up 0.3% during mid-day trading on Monday . The stock traded as high as $1.69 and last traded at $1.69. 40,884 shares were traded during mid-day trading, a decline of 44% from the average session volume of 72,601 shares. The stock had previously closed at $1.68.

MFS Intermediate High Income Fund Stock Up 0.3%

The company has a 50 day simple moving average of $1.67 and a 200-day simple moving average of $1.71.

MFS Intermediate High Income Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th will be issued a $0.014 dividend. This represents a $0.17 annualized dividend and a dividend yield of 10.00%. The ex-dividend date is Tuesday, May 13th.

Hedge Funds Weigh In On MFS Intermediate High Income Fund

Hedge funds have recently modified their holdings of the stock. Sit Investment Associates Inc. grew its holdings in MFS Intermediate High Income Fund by 4.1% during the first quarter. Sit Investment Associates Inc. now owns 1,126,563 shares of the company’s stock worth $1,926,000 after purchasing an additional 44,477 shares during the period. Apollon Wealth Management LLC acquired a new stake in shares of MFS Intermediate High Income Fund in the fourth quarter valued at approximately $66,000. L.M. Kohn & Company acquired a new stake in shares of MFS Intermediate High Income Fund in the first quarter valued at approximately $27,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of MFS Intermediate High Income Fund in the first quarter valued at approximately $25,000. Institutional investors 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.