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

Key Points

• MFS Intermediate Income Trust (NYSE:MIN) announced a monthly dividend of $0.02 per share, payable on August 29th to stockholders of record as of August 19th.
• The announced dividend results in an annualized dividend yield of 8.7%.
• Shares of MIN traded up 0.6% on the announcement, reaching a price of $2.70, with a 12-month range between $2.61 and $2.79.

MFS Intermediate Income Trust (NYSE:MIN - Get Free Report) announced a monthly dividend on Monday, August 4th, Wall Street Journal reports. Investors of record on Tuesday, August 19th will be paid a dividend of 0.0194 per share by the financial services provider on Friday, August 29th. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date is Tuesday, August 19th.

MFS Intermediate Income Trust Trading Up 0.2%

Shares of NYSE MIN traded up $0.01 during mid-day trading on Friday, reaching $2.69. 89,340 shares of the company were exchanged, compared to its average volume of 181,124. MFS Intermediate Income Trust has a 1 year low of $2.61 and a 1 year high of $2.79. The firm has a 50-day moving average of $2.67 and a 200 day moving average of $2.68.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wealth Quarterback LLC acquired a new position in MFS Intermediate Income Trust during the 2nd quarter valued at about $28,000. Farther Finance Advisors LLC acquired a new position in MFS Intermediate Income Trust during the 1st quarter valued at about $40,000. EP Wealth Advisors LLC acquired a new position in MFS Intermediate Income Trust during the 1st quarter valued at about $42,000. Advisory Services Network LLC acquired a new position in MFS Intermediate Income Trust during the 4th quarter valued at about $45,000. Finally, Shaker Financial Services LLC increased its position in MFS Intermediate Income Trust by 23.0% during the 2nd quarter. Shaker Financial Services LLC now owns 25,050 shares of the financial services provider's stock valued at $68,000 after buying an additional 4,680 shares in the last quarter. 50.90% of the stock is owned by institutional investors and hedge funds.

MFS Intermediate Income Trust Company Profile

MFS Intermediate Income Trust is a closed ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets across the globe. It primarily invests in debt instruments. The fund seeks to benchmarks the performance of its portfolio against the Barclays Intermediate U.S.