MFS Intermediate Income Trust Stock to Reverse Split on Thursday, October 8th (NYSE:MIN)

MFS Intermediate Income Trust (NYSE:MIN)’s stock is set to reverse split on Thursday, October 8th. The 1-6 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, October 7th.

MFS Intermediate Income Trust Price Performance

Shares of MIN stock opened at $2.33 on Friday. MFS Intermediate Income Trust has a 12 month low of $2.30 and a 12 month high of $2.68. The company’s fifty day simple moving average is $2.40 and its 200-day simple moving average is $2.44.

MFS Intermediate Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd were issued a dividend of $0.02 per share. The ex-dividend date was Tuesday, September 22nd. This represents a $0.24 annualized dividend and a yield of 10.3%.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Several large investors have recently modified their holdings of the stock. Sit Investment Associates Inc. lifted 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 valued at $76,128,000 after purchasing an additional 213,250 shares during the last quarter. GatePass Capital LLC grew its holdings in MFS Intermediate Income Trust by 2,212.3% during the second quarter. GatePass Capital LLC now owns 601,200 shares of the financial services provider’s stock valued at $1,485,000 after purchasing an additional 575,200 shares during the period. Private Advisor Group LLC increased its position in 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 last quarter. Ameritas Advisory Services LLC raised 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 valued at $824,000 after buying an additional 65,151 shares during the period. Finally, Decision Investments Inc. raised 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 valued at $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 management investment company that seeks to provide high current income while maintaining prudent portfolio diversification. The fund invests primarily in fixed-income securities, including government and corporate bonds, mortgage-backed securities, asset-backed securities and other debt instruments.

The portfolio may include securities issued by companies and governments in the United States and other countries. MFS Investment Management serves as the fund’s investment adviser and manages the portfolio using research and credit analysis to identify income-producing opportunities across intermediate-term debt markets.

MFS Intermediate Income Trust is part of the MFS family of investment products, which has a long history of managing mutual funds and other investment vehicles.