MFS Intermediate Income Trust (NYSE:MIN) Shares Cross Below 50 Day Moving Average - Here's Why

Key Points

• MFS Intermediate Income Trust (NYSE:MIN) shares fell below their 50-day moving average of $2.68, trading at $2.67 with a volume of over 2.7 million shares.
• The trust has announced an increase in its monthly dividend to $0.0195, reflecting an annualized yield of 8.8% for shareholders of record on September 16th.
• Institutional investors hold 50.90% of the company’s stock, with several funds recently adjusting their positions in the trust.

MFS Intermediate Income Trust (NYSE:MIN - ) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.68 and traded as low as $2.67. MFS Intermediate Income Trust shares last traded at $2.68, with a volume of 2,723,981 shares traded.

MFS Intermediate Income Trust Stock Down 0.2%

The stock's fifty day simple moving average is $2.68 and its 200-day simple moving average is $2.68.

MFS Intermediate Income Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.0195 dividend. This is an increase from MFS Intermediate Income Trust's previous monthly dividend of $0.02. This represents a c) dividend on an annualized basis and a yield of 8.8%. The ex-dividend date of this dividend is Tuesday, September 16th.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Large investors have recently made changes to their positions in the company. Wealth Quarterback LLC acquired a new position in shares of MFS Intermediate Income Trust during the second quarter valued at approximately $28,000. Farther Finance Advisors LLC acquired a new stake in shares of MFS Intermediate Income Trust during the 1st quarter valued at $40,000. EP Wealth Advisors LLC acquired a new stake in shares of MFS Intermediate Income Trust during the 1st quarter valued at $42,000. Shaker Financial Services LLC lifted its stake in shares of MFS Intermediate Income Trust by 23.0% in the 2nd quarter. Shaker Financial Services LLC now owns 25,050 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 4,680 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in shares of MFS Intermediate Income Trust by 17.0% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 50.90% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.