Todd Reit Purchases 4,400 Shares of MFS Intermediate Income Trust (NYSE:MIN) Stock

Key Points

• Director Todd Reit purchased 4,400 MIN shares at an average price of $2.49, investing $10,956 and establishing a 4,400-share position.
• MFS Intermediate Income Trust shares traded near their 52-week low at $2.40, compared with a 52-week range of $2.39 to $2.72.
• The trust declared a monthly dividend of $0.02 per share, payable July 31 to shareholders of record July 23, representing an annualized yield of approximately 10.0%.

MFS Intermediate Income Trust (NYSE:MIN - Get Free Report) Director Todd Reit bought 4,400 shares of the company's stock in a transaction on Tuesday, July 21st. The stock was bought at an average cost of $2.49 per share, with a total value of $10,956.00. Following the completion of the purchase, the director owned 4,400 shares of the company's stock, valued at approximately $10,956. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

MFS Intermediate Income Trust Price Performance

Shares of MIN stock traded up $0.01 during trading hours on Tuesday, reaching $2.40. 31,477 shares of the company were exchanged, compared to its average volume of 245,576. MFS Intermediate Income Trust has a fifty-two week low of $2.39 and a fifty-two week high of $2.72. The stock's fifty day moving average is $2.45 and its two-hundred day moving average is $2.50.

MFS Intermediate Income Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd will be given a $0.02 dividend. This represents a c) dividend on an annualized basis and a yield of 10.0%. The ex-dividend date is Thursday, July 23rd. This is a positive change from MFS Intermediate Income Trust's previous monthly dividend of $0.02.

Hedge Funds Weigh In On MFS Intermediate Income Trust

Large investors have recently made changes to their positions in the company. Sit Investment Associates Inc. increased 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 worth $76,128,000 after purchasing an additional 213,250 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of MFS Intermediate Income Trust by 6.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,232,821 shares of the financial services provider's stock valued at $8,664,000 after purchasing an additional 206,565 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of MFS Intermediate Income Trust by 26.2% in the 3rd quarter. Bank of America Corp DE now owns 898,697 shares of the financial services provider's stock valued at $2,409,000 after purchasing an additional 186,567 shares during the last quarter. Equitable Holdings Inc. grew its position in shares of MFS Intermediate Income Trust by 20.8% during the 4th quarter. Equitable Holdings Inc. now owns 701,847 shares of the financial services provider's stock worth $1,832,000 after buying an additional 121,083 shares during the period. Finally, Osaic Holdings Inc. grew its position in shares of MFS Intermediate Income Trust by 3.6% during the 4th quarter. Osaic Holdings Inc. now owns 2,107,608 shares of the financial services provider's stock worth $5,501,000 after buying an additional 72,988 shares during the period. Institutional investors and hedge funds own 50.90% of the company's stock.

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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