MFS Intermediate Income Trust (NYSE:MIN) Stock Price Passes Below 200-Day Moving Average - Here's What Happened

Key Points

• MFS Intermediate Income Trust (MIN) fell below its 200-day moving average, trading as low as $2.46 versus the 200-day MA of $2.58 and last trading at $2.4650 on a volume of 271,707 shares.
• The trust declared a monthly dividend of $0.0188 per share (annualized yield ~9.1%), with an ex-dividend date of May 19 and payment scheduled for May 29.
• About 50.9% of the stock is owned by institutional investors, including Sit Investment Associates which holds roughly 29.17 million shares, and several firms recently increased their stakes.

MFS Intermediate Income Trust (NYSE:MIN - Get Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.58 and traded as low as $2.46. MFS Intermediate Income Trust shares last traded at $2.4650, with a volume of 271,707 shares trading hands.

MFS Intermediate Income Trust Stock Performance

The firm's 50 day simple moving average is $2.50 and its 200 day simple moving average is $2.58.

MFS Intermediate Income Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.0188 per share. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date is Tuesday, May 19th.

Institutional Trading of MFS Intermediate Income Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Decision Investments Inc. lifted its stake in MFS Intermediate Income Trust by 6.6% during the 1st quarter. Decision Investments Inc. now owns 163,000 shares of the financial services provider's stock valued at $409,000 after acquiring an additional 10,100 shares during the period. Evolve Private Wealth LLC purchased a new position in shares of MFS Intermediate Income Trust during the 1st quarter valued at approximately $75,000. Sit Investment Associates Inc. increased its holdings in shares of MFS Intermediate Income Trust by 0.7% during the 4th 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. Stephens Inc. AR increased its holdings in shares of MFS Intermediate Income Trust by 3.3% during the 4th quarter. Stephens Inc. AR now owns 124,255 shares of the financial services provider's stock valued at $324,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in shares of MFS Intermediate Income Trust by 34.7% during the 4th quarter. Benjamin Edwards Inc. now owns 27,170 shares of the financial services provider's stock valued at $71,000 after purchasing an additional 7,000 shares in the last quarter. 50.90% of the stock is currently owned by institutional investors and hedge funds.

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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