MFS Intermediate Income Trust (NYSE:MIN) Share Price Passes Below 200-Day Moving Average – Here’s Why

MFS Intermediate Income Trust (NYSE:MIN)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.61 and traded as low as $2.46. MFS Intermediate Income Trust shares last traded at $2.4850, with a volume of 663,562 shares changing hands.

MFS Intermediate Income Trust Trading Up 1.0%

The stock has a fifty day moving average of $2.55 and a 200-day moving average of $2.61.

MFS Intermediate Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.0192 dividend. This represents a c) annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend was Tuesday, March 17th.

Institutional Trading of MFS Intermediate Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. acquired a new position in MFS Intermediate Income Trust during the fourth quarter worth $34,000. Integrated Wealth Concepts LLC purchased a new stake in MFS Intermediate Income Trust during the third quarter worth $39,000. Compound Planning Inc. acquired a new stake in MFS Intermediate Income Trust in the fourth quarter valued at $45,000. Benjamin Edwards Inc. acquired a new stake in MFS Intermediate Income Trust in the third quarter valued at $54,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of MFS Intermediate Income Trust in the third quarter valued at $108,000. Institutional investors and hedge funds own 50.90% of the company’s stock.

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.