MFS Intermediate Income Trust (NYSE:MIN) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 36.4% to 227,728 shares as of September 15, representing about 0.2% of outstanding shares and a short-interest ratio of 0.8 days.
• MFS Intermediate Income Trust announced a 1-for-6 reverse stock split, effective October 8, with shareholder positions adjusted after the October 7 close.
• The trust paid a monthly dividend of $0.02 per share, equivalent to $0.24 annually and a 10.3% yield; institutional investors and hedge funds own approximately 50.9% of the shares.

MFS Intermediate Income Trust (NYSE:MIN - Get Free Report) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 227,728 shares, a decline of 36.4% from the August 31st total of 358,020 shares. Based on an average daily volume of 299,783 shares, the short-interest ratio is presently 0.8 days. Approximately 0.2% of the company's shares are sold short.

MFS Intermediate Income Trust Stock Performance

MFS Intermediate Income Trust stock opened at $2.33 on Thursday. The business has a 50-day moving average of $2.40 and a 200-day moving average of $2.44. MFS Intermediate Income Trust has a 1 year low of $2.30 and a 1 year high of $2.68.

Shares of MFS Intermediate Income Trust are going to reverse split on Thursday, October 8th. The 1-6 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, October 7th.

MFS Intermediate Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 10.3%.

Institutional Trading of MFS Intermediate Income Trust

Several hedge funds have recently bought and sold shares of MIN. GatePass Capital LLC increased its position in shares of MFS Intermediate Income Trust by 2,212.3% during the second quarter. GatePass Capital LLC now owns 601,200 shares of the financial services provider's stock worth $1,485,000 after acquiring an additional 575,200 shares in the last quarter. Sit Investment Associates Inc. lifted its holdings 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. Decision Investments Inc. grew its holdings in shares of MFS Intermediate Income Trust by 6.6% during the first quarter. Decision Investments Inc. now owns 163,000 shares of the financial services provider's stock worth $409,000 after buying an additional 10,100 shares in the last quarter. Evolve Private Wealth LLC acquired a new stake in MFS Intermediate Income Trust in the 1st quarter valued at approximately $75,000. Finally, Private Advisor Group LLC boosted its position in MFS Intermediate Income Trust by 1.5% during the 1st quarter. Private Advisor Group LLC now owns 347,425 shares of the financial services provider's stock worth $872,000 after acquiring an additional 5,075 shares during the last quarter. 50.90% of the stock is currently owned by institutional investors and hedge funds.

About MFS Intermediate Income Trust

MFS Intermediate Income Trust NYSE: MIN is a closed-end management investment company that seeks to provide high current income while maintaining prudent portfolio diversification. The fund invests primarily in fixed-income securities, including government and corporate bonds, mortgage-backed securities, asset-backed securities and other debt instruments.

The portfolio may include securities issued by companies and governments in the United States and other countries. MFS Investment Management serves as the fund's investment adviser and manages the portfolio using research and credit analysis to identify income-producing opportunities across intermediate-term debt markets.

MFS Intermediate Income Trust is part of the MFS family of investment products, which has a long history of managing mutual funds and other investment vehicles.

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