MFS Intermediate Income Trust (NYSE:MIN) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

MFS Intermediate Income Trust (NYSE:MIN)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.47 and traded as low as $2.40. MFS Intermediate Income Trust shares last traded at $2.4250, with a volume of 213,688 shares trading hands.

MFS Intermediate Income Trust Stock Performance

The stock’s fifty day moving average is $2.44 and its two-hundred day moving average is $2.47.

MFS Intermediate Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were given a dividend of $0.02 per share. This represents a c) annualized dividend and a yield of 9.9%. The ex-dividend date was Monday, August 24th.

Institutional Trading of MFS Intermediate Income Trust

A number of large investors have recently modified their holdings of MIN. Sit Investment Associates Inc. raised its stake 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 in the last quarter. Ameriprise Financial Inc. grew its stake in 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 worth $8,664,000 after buying an additional 206,565 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of MFS Intermediate Income Trust by 3.6% in the 4th quarter. Osaic Holdings Inc. now owns 2,107,608 shares of the financial services provider’s stock worth $5,501,000 after buying an additional 72,988 shares during the last quarter. Invesco Ltd. raised its position in shares of MFS Intermediate Income Trust by 2.5% during the 3rd quarter. Invesco Ltd. now owns 1,150,617 shares of the financial services provider’s stock valued at $3,084,000 after buying an additional 28,337 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of MFS Intermediate Income Trust by 1.7% during the 4th quarter. LPL Financial LLC now owns 1,048,765 shares of the financial services provider’s stock valued at $2,737,000 after buying an additional 17,289 shares in the last quarter. 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.