MFS Intermediate Income Trust (NYSE:MIN) Short Interest Update

MFS Intermediate Income Trust (NYSE:MIN) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 501,072 shares, a growth of 126.9% from the May 31st total of 220,822 shares. Based on an average daily volume of 173,351 shares, the days-to-cover ratio is currently 2.9 days. Approximately 0.4% of the company’s stock are sold short.

MFS Intermediate Income Trust Stock Performance

NYSE:MIN traded down $0.01 during trading hours on Wednesday, hitting $2.46. The company’s stock had a trading volume of 245,282 shares, compared to its average volume of 258,121. The stock has a fifty day moving average of $2.45 and a 200-day moving average of $2.53. MFS Intermediate Income Trust has a 52-week low of $2.41 and a 52-week high of $2.72.

MFS Intermediate Income Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.0186 per share. This represents a c) annualized dividend 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 hedge funds have recently made changes to their positions in MIN. Landscape Capital Management L.L.C. acquired a new stake in shares of MFS Intermediate Income Trust during the 4th quarter worth about $34,000. Integrated Wealth Concepts LLC acquired a new position in MFS Intermediate Income Trust in the third quarter valued at approximately $39,000. Compound Planning Inc. purchased a new position in MFS Intermediate Income Trust in the fourth quarter valued at approximately $45,000. GatePass Capital LLC purchased a new position in MFS Intermediate Income Trust in the first quarter valued at approximately $65,000. Finally, Benjamin Edwards Inc. raised its holdings in 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 worth $71,000 after purchasing an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 50.90% of the company’s stock.

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.