MFS Intermediate Income Trust (NYSE:MIN) Announces $0.02 Monthly Dividend

Key Points

• MFS Intermediate Income Trust declared a monthly dividend of $0.02 per share. Shareholders of record on September 22 will be paid on September 30; the dividend implies an annualized yield of approximately 10.2%.
• MIN shares opened at $2.35, near the lower end of their 12-month range of $2.31 to $2.70, and were up 0.2% in the latest session.
• Hedge funds and other institutional investors own approximately 50.9% of the company, with several firms increasing their positions recently.

MFS Intermediate Income Trust (NYSE:MIN - Get Free Report) declared a monthly dividend on Friday, September 11th. Shareholders of record on Tuesday, September 22nd will be paid a dividend of 0.02 per share by the financial services provider on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 10.2%. The ex-dividend date of this dividend is Tuesday, September 22nd.

MFS Intermediate Income Trust Stock Up 0.2%

MIN stock opened at $2.35 on Friday. MFS Intermediate Income Trust has a twelve month low of $2.31 and a twelve month high of $2.70. The stock has a 50-day simple moving average of $2.43 and a two-hundred day simple moving average of $2.45.

Hedge Funds Weigh In On MFS Intermediate Income Trust

Hedge funds have recently bought and sold shares of the company. GatePass Capital LLC lifted its stake in MFS Intermediate Income Trust by 2,212.3% in the 2nd quarter. GatePass Capital LLC now owns 601,200 shares of the financial services provider's stock worth $1,485,000 after purchasing an additional 575,200 shares in the last quarter. Sit Investment Associates Inc. boosted its holdings in MFS Intermediate Income Trust by 0.7% in the 4th quarter. Sit Investment Associates Inc. now owns 29,167,975 shares of the financial services provider's stock valued at $76,128,000 after purchasing an additional 213,250 shares during the period. Ameritas Advisory Services LLC grew its position in shares of MFS Intermediate Income Trust by 24.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 333,668 shares of the financial services provider's stock valued at $824,000 after purchasing an additional 65,151 shares in the last quarter. Evolve Private Wealth LLC purchased a new position in shares of MFS Intermediate Income Trust during the 1st quarter valued at $75,000. Finally, Advisory Solutions Group LLC purchased a new position in shares of MFS Intermediate Income Trust during the 2nd quarter valued at $43,000. Hedge funds and other institutional investors 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 high current income while maintaining prudent portfolio diversification. The fund invests primarily in fixed-income securities, including government and corporate bonds, mortgage-backed securities, asset-backed securities and other debt instruments.

The portfolio may include securities issued by companies and governments in the United States and other countries. MFS Investment Management serves as the fund's investment adviser and manages the portfolio using research and credit analysis to identify income-producing opportunities across intermediate-term debt markets.

MFS Intermediate Income Trust is part of the MFS family of investment products, which has a long history of managing mutual funds and other investment vehicles.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.