MFS Intermediate High Income Fund (NYSE:CIF) Trading Up 0.9% – Here’s Why

MFS Intermediate High Income Fund (NYSE:CIF)’s stock price traded up 0.9% during trading on Wednesday . The company traded as high as $1.77 and last traded at $1.75. 101,817 shares changed hands during mid-day trading, an increase of 43% from the average session volume of 71,072 shares. The stock had previously closed at $1.74.

MFS Intermediate High Income Fund Trading Up 0.9%

The firm has a 50-day simple moving average of $1.72 and a 200 day simple moving average of $1.71.

MFS Intermediate High Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a $0.0145 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $0.17 annualized dividend and a yield of 9.93%. This is a boost from MFS Intermediate High Income Fund’s previous monthly dividend of $0.01.

Institutional Investors Weigh In On MFS Intermediate High Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIF. Sit Investment Associates Inc. lifted 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 valued at $1,926,000 after purchasing an additional 44,477 shares in the last quarter. L.M. Kohn & Company acquired a new position in MFS Intermediate High Income Fund in the first quarter valued at about $27,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of MFS Intermediate High Income Fund during the 1st quarter worth 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.