MFS Intermediate Income Trust (NYSE:MIN) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

MFS Intermediate Income Trust (NYSE:MIN) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.45 and traded as low as $2.45. MFS Intermediate Income Trust shares last traded at $2.4550, with a volume of 157,433 shares changing hands.

MFS Intermediate Income Trust Trading Up 0.2%

The firm’s 50-day moving average is $2.45 and its 200 day moving average is $2.52.

MFS Intermediate Income Trust Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a dividend of $0.0186 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a c) annualized dividend and a dividend yield of 9.1%.

Institutional Trading of MFS Intermediate Income Trust

Institutional investors have recently modified their holdings of the business. Sit Investment Associates Inc. increased its holdings 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 period. Ameriprise Financial Inc. grew its position in shares of MFS Intermediate Income Trust by 6.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,232,821 shares of the financial services provider’s stock valued at $8,664,000 after buying an additional 206,565 shares during the last quarter. Bank of America Corp DE grew its position in shares of MFS Intermediate Income Trust by 26.2% in the 3rd quarter. Bank of America Corp DE now owns 898,697 shares of the financial services provider’s stock valued at $2,409,000 after buying an additional 186,567 shares during the last quarter. Equitable Holdings Inc. increased its stake in shares of MFS Intermediate Income Trust by 20.8% in the fourth quarter. Equitable Holdings Inc. now owns 701,847 shares of the financial services provider’s stock valued at $1,832,000 after buying an additional 121,083 shares during the period. Finally, Osaic Holdings Inc. increased its stake in shares of MFS Intermediate Income Trust by 3.6% in the fourth quarter. Osaic Holdings Inc. now owns 2,107,608 shares of the financial services provider’s stock valued at $5,501,000 after buying an additional 72,988 shares during the period. 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.