MFS Intermediate Income Trust (NYSE:MIN) Sets New 12-Month High - Here's Why

Key Points

• MFS Intermediate Income Trust reportedly reached a new 52-week high, trading as high as $13.68 and last at $13.8650. However, the article contains inconsistent pricing data, including a prior close of $2.31 and moving averages near $2.40.
• The trust increased its monthly dividend to $0.12 from $0.02, equivalent to $1.44 annually and a stated yield of approximately 10.5%.
• Institutional investors and hedge funds own 50.9% of the shares, while the closed-end fund primarily invests in diversified government, corporate, mortgage-backed and other fixed-income securities.

MFS Intermediate Income Trust (NYSE:MIN - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $13.68 and last traded at $13.8650, with a volume of 267 shares traded. The stock had previously closed at $2.31.

MFS Intermediate Income Trust Stock Down 0.7%

The business's fifty day moving average is $2.39 and its 200-day moving average is $2.43.

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 given a $0.12 dividend. This is an increase from MFS Intermediate Income Trust's previous monthly dividend of $0.02. The ex-dividend date was Tuesday, September 22nd. This represents a $1.44 annualized dividend and a yield of 10.5%.

Institutional Trading of MFS Intermediate Income Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sit Investment Associates Inc. lifted its holdings in 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 worth $76,128,000 after buying an additional 213,250 shares during the period. GatePass Capital LLC increased its stake 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 valued at $1,485,000 after buying an additional 575,200 shares during the period. 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 valued at $872,000 after buying an additional 5,075 shares during the period. Ameritas Advisory Services LLC raised its position in shares of 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, Decision Investments Inc. raised its position 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 acquiring an additional 10,100 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 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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