MFS Intermediate Income Trust (NYSE:MIN) Shares Shorted: Short Interest Down 73.7% in October

Key Points

• Short interest fell 73.7% in October to 44,730 shares, representing about 0.2% of shares outstanding and a days-to-cover ratio of 1.0.
• Institutional investors and hedge funds own approximately 50.9% of MIN, with several firms increasing their positions during the first and second quarters.
• MIN shares recently traded at $13.92, near the lower end of their 52-week range, while the trust announced a monthly dividend of $0.12 per share, equivalent to an annualized yield of about 10.3%.

MFS Intermediate Income Trust (NYSE:MIN - Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 44,730 shares, a decrease of 73.7% from the September 30th total of 170,317 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 43,521 shares, the days-to-cover ratio is currently 1.0 days.

Hedge Funds Weigh In On MFS Intermediate Income Trust

Several institutional investors have recently added to or reduced their stakes in MIN. Advisory Solutions Group LLC purchased a new position in MFS Intermediate Income Trust during the second quarter worth approximately $43,000. Compound Planning Inc. grew its position in MFS Intermediate Income Trust by 49.9% during the first quarter. Compound Planning Inc. now owns 25,797 shares of the financial services provider's stock valued at $65,000 after acquiring an additional 8,584 shares during the period. GatePass Capital LLC acquired a new stake in MFS Intermediate Income Trust during the first quarter worth about $65,000. Ameritas Advisory Services LLC increased its stake in MFS Intermediate Income Trust by 24.3% during the second quarter. Ameritas Advisory Services LLC now owns 333,668 shares of the financial services provider's stock worth $824,000 after acquiring an additional 65,151 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of MFS Intermediate Income Trust by 1.5% in the 1st quarter. Private Advisor Group LLC now owns 347,425 shares of the financial services provider's stock worth $872,000 after purchasing an additional 5,075 shares during the period. 50.90% of the stock is currently owned by institutional investors and hedge funds.

MFS Intermediate Income Trust Stock Down 0.2%

Shares of NYSE:MIN traded down $0.03 on Wednesday, hitting $13.92. The company had a trading volume of 23,574 shares, compared to its average volume of 39,918. MFS Intermediate Income Trust has a 52-week low of $13.61 and a 52-week high of $16.02. The business has a 50 day moving average of $14.19 and a 200 day moving average of $14.78.

MFS Intermediate Income Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be issued a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.3%. This is a drop from MFS Intermediate Income Trust's previous monthly dividend of $0.12. The ex-dividend date is Friday, October 23rd.

MFS Intermediate Income Trust Company Profile

MFS Intermediate Income Trust NYSE: MIN is a closed-end investment company managed by MFS Investment Management. The fund seeks to provide a high level of current income while also pursuing preservation of capital as a secondary objective.

The trust invests primarily in a diversified portfolio of fixed-income securities, including government and corporate bonds, mortgage- and asset-backed securities, and other debt instruments. Its holdings may include both investment-grade and below-investment-grade securities issued by U.S.

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