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

Key Points

• MFS Intermediate Income Trust shares moved above their 50-day moving average of $2.44, trading as high as $2.44 before closing near $2.425 on volume of 277,117 shares. The 200-day moving average stands at $2.49.
• The trust paid a monthly dividend of $0.02 per share, representing an annualized yield of approximately 9.9%; the payment was made to shareholders of record on July 23.
• Institutional investors own approximately 50.9% of the shares, with several major firms—including Sit Investment Associates, Ameriprise Financial and Osaic Holdings—recently increasing their positions.

MFS Intermediate Income Trust (NYSE:MIN - Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.44 and traded as high as $2.44. MFS Intermediate Income Trust shares last traded at $2.4250, with a volume of 277,117 shares changing hands.

MFS Intermediate Income Trust Price Performance

The firm's 50-day moving average price is $2.44 and its 200-day moving average price is $2.49.

MFS Intermediate Income Trust Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd were issued a dividend of $0.02 per share. This represents a c) dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend was Thursday, July 23rd. 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

Large investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. grew its position in shares of MFS Intermediate Income Trust by 0.7% in the fourth 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 in the last quarter. Ameriprise Financial Inc. lifted its holdings in MFS Intermediate Income Trust by 6.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,232,821 shares of the financial services provider's stock worth $8,664,000 after purchasing an additional 206,565 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in MFS Intermediate Income Trust by 3.6% during the 4th quarter. Osaic Holdings Inc. now owns 2,107,608 shares of the financial services provider's stock worth $5,501,000 after purchasing an additional 72,988 shares in the last quarter. Invesco Ltd. boosted its stake in MFS Intermediate Income Trust by 2.5% in the 3rd quarter. Invesco Ltd. now owns 1,150,617 shares of the financial services provider's stock worth $3,084,000 after purchasing an additional 28,337 shares during the period. Finally, LPL Financial LLC boosted its stake in MFS Intermediate Income Trust by 1.7% in the 4th quarter. LPL Financial LLC now owns 1,048,765 shares of the financial services provider's stock worth $2,737,000 after purchasing an additional 17,289 shares during the period. 50.90% of the stock is owned by institutional investors.

MFS Intermediate Income Trust Company Profile

MFS Intermediate Income Trust NYSE: MIN is a closed-end management investment company that seeks to provide a high level of current income consistent with the preservation of capital. The Trust pursues its objective by investing primarily in a diversified portfolio of intermediate-duration fixed-income securities. Its holdings typically include investment-grade corporate bonds, mortgage- and asset-backed securities, and select non-investment-grade debt instruments. The Trust may employ leverage to enhance income potential and intends to distribute gains and interest earnings on a monthly basis.

The portfolio is managed by the fixed-income team at MFS Investment Management, a global asset manager founded in 1924 and headquartered in Boston, Massachusetts.

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