MFS Intermediate Income Trust (NYSE:MIN) Stock Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• MFS Intermediate Income Trust (NYSE:MIN) traded above its 50-day moving average of $2.67, reaching a high of $2.70 during trading.
• The trust announced a monthly dividend of $0.0194, with an ex-dividend date on August 19th, resulting in an annualized yield of 8.7%.
• Multiple hedge funds have increased their stake in MFS Intermediate Income Trust, with institutional investors now owning 50.90% of the company's stock.

MFS Intermediate Income Trust (NYSE:MIN - Get Free Report)'s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.67 and traded as high as $2.70. MFS Intermediate Income Trust shares last traded at $2.69, with a volume of 110,021 shares traded.

MFS Intermediate Income Trust Trading Up 0.2%

The firm's fifty day moving average is $2.67 and its two-hundred day moving average is $2.68.

MFS Intermediate Income Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be issued a dividend of $0.0194 per share. The ex-dividend date is Tuesday, August 19th. This represents a c) annualized dividend and a yield of 8.7%.

Institutional Trading of MFS Intermediate Income Trust

Hedge funds have recently added to or reduced their stakes in the stock. Wealth Quarterback LLC bought a new stake in MFS Intermediate Income Trust in the second quarter worth about $28,000. Farther Finance Advisors LLC bought a new stake in MFS Intermediate Income Trust in the first quarter worth about $40,000. EP Wealth Advisors LLC bought a new stake in MFS Intermediate Income Trust in the first quarter worth about $42,000. Advisory Services Network LLC bought a new stake in MFS Intermediate Income Trust in the fourth quarter worth about $45,000. Finally, XTX Topco Ltd bought a new stake in shares of MFS Intermediate Income Trust in the fourth quarter valued at approximately $67,000. Institutional investors own 50.90% of the company's stock.

About MFS Intermediate Income Trust

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.