MFS Intermediate Income Trust (NYSE:MIN) Share Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• MFS Intermediate Income Trust's stock price recently surpassed its fifty-day moving average of $2.68, trading as high as $2.72 with a trading volume of 61,953 shares.
• The trust announced an increase in its monthly dividend to $0.0195 per share, up from $0.02, with a yield of 8.6%.
• Institutional investors now hold 50.90% of MFS Intermediate Income Trust's shares, with notable increases in holdings from firms like Citadel Advisors and Shaker Financial Services.

MFS Intermediate Income Trust (NYSE:MIN - Get Free Report) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $2.68 and traded as high as $2.72. MFS Intermediate Income Trust shares last traded at $2.72, with a volume of 61,953 shares trading hands.

MFS Intermediate Income Trust Stock Performance

The stock's 50-day moving average price is $2.68 and its two-hundred day moving average price is $2.68.

MFS Intermediate Income Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.0195 per share. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date is Tuesday, September 16th. This is a positive change from MFS Intermediate Income Trust's previous monthly dividend of $0.02.

Hedge Funds Weigh In On MFS Intermediate Income Trust

Several large investors have recently modified their holdings of MIN. Ameriprise Financial Inc. boosted its holdings in MFS Intermediate Income Trust by 5.8% in the 4th quarter. Ameriprise Financial Inc. now owns 1,759,098 shares of the financial services provider's stock worth $4,679,000 after buying an additional 96,198 shares during the period. Bank of America Corp DE boosted its holdings in shares of MFS Intermediate Income Trust by 3.6% in the fourth quarter. Bank of America Corp DE now owns 394,161 shares of the financial services provider's stock worth $1,048,000 after acquiring an additional 13,523 shares during the period. Citadel Advisors LLC grew its position in shares of MFS Intermediate Income Trust by 17.0% in the fourth quarter. Citadel Advisors LLC now owns 29,664 shares of the financial services provider's stock valued at $79,000 after purchasing an additional 4,310 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in shares of MFS Intermediate Income Trust during the 1st quarter valued at $40,000. Finally, LPL Financial LLC lifted its holdings in MFS Intermediate Income Trust by 106.4% during the 1st quarter. LPL Financial LLC now owns 840,907 shares of the financial services provider's stock worth $2,262,000 after purchasing an additional 433,432 shares in the last quarter. Hedge funds and other 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.