MFS Intermediate Income Trust (NYSE:MIN) Stock Crosses Below 200 Day Moving Average – Should You Sell?

MFS Intermediate Income Trust (NYSE:MIN) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.57 and traded as low as $2.45. MFS Intermediate Income Trust shares last traded at $2.4550, with a volume of 57,641 shares trading hands.

MFS Intermediate Income Trust Stock Performance

The company has a 50 day moving average price of $2.48 and a 200-day moving average price of $2.57.

MFS Intermediate Income Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.0188 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a c) annualized dividend and a dividend yield of 9.2%.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIN. Sit Investment Associates Inc. grew its stake 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. grew its stake in MFS Intermediate Income Trust by 6.8% in the third quarter. Ameriprise Financial Inc. now owns 3,232,821 shares of the financial services provider’s stock worth $8,664,000 after purchasing an additional 206,565 shares during the period. Bank of America Corp DE grew its stake in MFS Intermediate Income Trust by 26.2% in the third quarter. Bank of America Corp DE now owns 898,697 shares of the financial services provider’s stock worth $2,409,000 after purchasing an additional 186,567 shares during the period. Equitable Holdings Inc. grew its stake in MFS Intermediate Income Trust by 20.8% in the fourth quarter. Equitable Holdings Inc. now owns 701,847 shares of the financial services provider’s stock worth $1,832,000 after purchasing an additional 121,083 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in MFS Intermediate Income Trust by 31.8% in the third quarter. Advisors Asset Management Inc. now owns 305,198 shares of the financial services provider’s stock worth $818,000 after purchasing an additional 73,627 shares during the period. 50.90% of the stock is owned by hedge funds and other 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.