MFS Intermediate Income Trust (NYSE:MIN) Share Price Crosses Below 50 Day Moving Average – Here’s Why

MFS Intermediate Income Trust (NYSE:MIN) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.45 and traded as low as $2.45. MFS Intermediate Income Trust shares last traded at $2.4550, with a volume of 157,433 shares changing hands.

MFS Intermediate Income Trust Trading Up 0.2%

The stock’s 50-day moving average is $2.45 and its 200-day moving average is $2.52.

MFS Intermediate Income Trust Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.0186 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date of this dividend was Tuesday, June 16th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. acquired a new stake in shares of MFS Intermediate Income Trust during the 4th quarter valued at $34,000. Integrated Wealth Concepts LLC acquired a new position in MFS Intermediate Income Trust in the 3rd quarter worth about $39,000. Compound Planning Inc. acquired a new position in MFS Intermediate Income Trust in the 4th quarter worth about $45,000. GatePass Capital LLC bought a new position in MFS Intermediate Income Trust in the first quarter valued at about $65,000. Finally, Benjamin Edwards Inc. boosted its stake in shares of MFS Intermediate Income Trust by 34.7% during the fourth quarter. Benjamin Edwards Inc. now owns 27,170 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 7,000 shares in the last quarter. 50.90% of the stock is currently owned by institutional investors.

About MFS Intermediate Income Trust

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.