Short Interest in MFS Intermediate High Income Fund (NYSE:CIF) Grows By 45.7%

MFS Intermediate High Income Fund (NYSE:CIF) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 38,654 shares, a growth of 45.7% from the November 30th total of 26,521 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 62,416 shares, the short-interest ratio is presently 0.6 days. Based on an average trading volume of 62,416 shares, the short-interest ratio is presently 0.6 days. Approximately 0.2% of the company’s stock are sold short.

Institutional Investors Weigh In On MFS Intermediate High Income Fund

A hedge fund recently bought a new stake in MFS Intermediate High Income Fund stock. Kovack Advisors Inc. bought a new stake in shares of MFS Intermediate High Income Fund (NYSE:CIF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,527 shares of the company’s stock, valued at approximately $27,000. Kovack Advisors Inc. owned 0.09% of MFS Intermediate High Income Fund as of its most recent SEC filing. 6.85% of the stock is owned by institutional investors and hedge funds.

MFS Intermediate High Income Fund Stock Up 0.6%

Shares of CIF traded up $0.01 during trading hours on Tuesday, hitting $1.72. The company had a trading volume of 20,287 shares, compared to its average volume of 61,859. MFS Intermediate High Income Fund has a 52-week low of $1.52 and a 52-week high of $1.82. The stock’s 50 day moving average price is $1.73 and its 200 day moving average price is $1.74.

MFS Intermediate High Income Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a $0.0145 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date is Tuesday, December 16th.

About MFS Intermediate High Income Fund

MFS Intermediate High Income Fund Inc (NYSE: CIF) is a closed-end management investment company advised by MFS Investment Management, one of the oldest global asset managers headquartered in Boston, Massachusetts. The fund seeks to provide current income and capital appreciation by allocating assets primarily to intermediate‐duration debt instruments. It trades on the New York Stock Exchange under the symbol CIF and offers investors exposure to a diversified portfolio of fixed-income securities.

The fund’s investment strategy emphasizes intermediate maturities, generally targeting bonds and loans with durations ranging from two to seven years.