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

MFS Intermediate Income Trust (NYSE:MIN)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.70 and traded as low as $2.68. MFS Intermediate Income Trust shares last traded at $2.70, with a volume of 124,372 shares trading hands.

MFS Intermediate Income Trust Price Performance

The stock’s 50 day moving average price is $2.69 and its two-hundred day moving average price is $2.70.

MFS Intermediate Income Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.0196 per share. This is a positive change from MFS Intermediate Income Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.24 dividend on an annualized basis and a yield of 8.73%.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in MIN. Focus Partners Wealth bought a new stake in MFS Intermediate Income Trust during the 4th quarter valued at approximately $104,000. Citadel Advisors LLC boosted its position in shares of MFS Intermediate Income Trust by 17.0% in the fourth quarter. Citadel Advisors LLC now owns 29,664 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 4,310 shares during the period. Cary Street Partners Financial LLC acquired a new stake in shares of MFS Intermediate Income Trust in the fourth quarter worth $95,000. Bank of America Corp DE increased its position in MFS Intermediate Income Trust by 3.6% during the fourth quarter. Bank of America Corp DE now owns 394,161 shares of the financial services provider’s stock worth $1,048,000 after acquiring an additional 13,523 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in MFS Intermediate Income Trust by 5.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,759,098 shares of the financial services provider’s stock valued at $4,679,000 after purchasing an additional 96,198 shares during the last quarter. 50.90% of the stock is owned by institutional investors and hedge funds.

MFS Intermediate Income Trust Company Profile

MFS Intermediate Income Trust is a closed ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets across the globe. It primarily invests in debt instruments. The fund seeks to benchmarks the performance of its portfolio against the Barclays Intermediate U.S.