MFS Intermediate Income Trust (NYSE:MIN) Sets New 1-Year Low - Here's Why

Key Points

• MFS Intermediate Income Trust shares hit a new 52-week low, falling to $13.61 during Friday trading and remaining below both its 50-day and 200-day moving averages.
• The trust increased its monthly dividend to $0.12 per share, representing $1.44 in annualized dividends and a yield of approximately 10.4%.
• Institutional investors own 50.9% of the trust, with several large holders recently increasing their positions, while MIN continues to invest primarily in diversified fixed-income securities.

MFS Intermediate Income Trust (NYSE:MIN - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $13.61 and last traded at $13.7720, with a volume of 1186 shares traded. The stock had previously closed at $13.75.

MFS Intermediate Income Trust Stock Performance

The firm's 50 day simple moving average is $14.36 and its 200 day simple moving average is $14.60.

MFS Intermediate Income Trust Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd were paid a $0.12 dividend. This is a boost from MFS Intermediate Income Trust's previous monthly dividend of $0.02. This represents a $1.44 annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend was Tuesday, September 22nd.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MIN. Sit Investment Associates Inc. lifted its position in 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 during the last quarter. GatePass Capital LLC grew its holdings in shares of MFS Intermediate Income Trust by 2,212.3% in the second quarter. GatePass Capital LLC now owns 601,200 shares of the financial services provider's stock worth $1,485,000 after purchasing an additional 575,200 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of MFS Intermediate Income Trust by 1.5% in the first quarter. Private Advisor Group LLC now owns 347,425 shares of the financial services provider's stock worth $872,000 after buying an additional 5,075 shares during the period. Ameritas Advisory Services LLC increased its stake in shares of MFS Intermediate Income Trust by 24.3% in the second quarter. Ameritas Advisory Services LLC now owns 333,668 shares of the financial services provider's stock worth $824,000 after buying an additional 65,151 shares during the period. Finally, Decision Investments Inc. increased its stake in shares of MFS Intermediate Income Trust by 6.6% in 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 during the period. Hedge funds and other institutional investors own 50.90% of the company's stock.

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 prudent investment management and preservation of capital.

The trust invests primarily in a diversified portfolio of fixed-income securities. Its holdings may include U.S. and foreign government and corporate bonds, mortgage- and asset-backed securities, and other debt instruments. The portfolio may also include below-investment-grade securities, which can provide additional income but involve greater credit risk.

MFS Intermediate Income Trust gives investors exposure to debt markets in the United States and other countries through a professionally managed portfolio.

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