MFS Intermediate Income Trust (NYSE:MIN) Stock Price Passes Above 50-Day Moving Average – What’s Next?

MFS Intermediate Income Trust (NYSE:MIN) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.67 and traded as high as $2.68. MFS Intermediate Income Trust shares last traded at $2.66, with a volume of 149,617 shares trading hands.

MFS Intermediate Income Trust Price Performance

The company has a 50 day moving average price of $2.67 and a 200 day moving average price of $2.68.

MFS Intermediate Income Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be given a $0.0196 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.23 dividend on an annualized basis and a yield of 8.83%.

Institutional Trading of MFS Intermediate Income Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stephens Inc. AR grew its position in shares of MFS Intermediate Income Trust by 3.5% during the 4th quarter. Stephens Inc. AR now owns 119,555 shares of the financial services provider’s stock worth $318,000 after buying an additional 4,000 shares during the period. Citadel Advisors LLC boosted its stake in 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 last quarter. Invesco Ltd. grew its holdings in MFS Intermediate Income Trust by 0.9% during the 4th quarter. Invesco Ltd. now owns 1,113,847 shares of the financial services provider’s stock worth $2,963,000 after acquiring an additional 9,837 shares during the period. Private Advisor Group LLC grew its holdings in MFS Intermediate Income Trust by 4.4% during the 1st quarter. Private Advisor Group LLC now owns 286,200 shares of the financial services provider’s stock worth $770,000 after acquiring an additional 12,000 shares during the period. Finally, Bank of America Corp DE raised its position in shares of MFS Intermediate Income Trust by 3.6% during the 4th quarter. Bank of America Corp DE now owns 394,161 shares of the financial services provider’s stock valued at $1,048,000 after acquiring an additional 13,523 shares during the last quarter. 50.90% of the stock is owned by institutional investors.

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.