MFS Intermediate Income Trust (NYSE:MIN) Shares Pass Below 200-Day Moving Average – What’s Next?

Shares of MFS Intermediate Income Trust (NYSE:MIN) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.57 and traded as low as $2.45. MFS Intermediate Income Trust shares last traded at $2.4550, with a volume of 57,641 shares traded.

MFS Intermediate Income Trust Stock Down 1.0%

The stock’s 50 day moving average is $2.48 and its two-hundred day moving average is $2.57.

MFS Intermediate Income Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be given a $0.0188 dividend. This represents a c) annualized dividend and a dividend yield of 9.2%. The ex-dividend date is Tuesday, May 19th.

Institutional Investors Weigh In On MFS Intermediate Income Trust

A number of large investors have recently modified their holdings of the business. Landscape Capital Management L.L.C. purchased a new position in shares of MFS Intermediate Income Trust in the fourth quarter worth about $34,000. Integrated Wealth Concepts LLC purchased a new stake in MFS Intermediate Income Trust during the 3rd quarter valued at about $39,000. Compound Planning Inc. acquired a new stake in MFS Intermediate Income Trust in the 4th quarter valued at about $45,000. Benjamin Edwards Inc. acquired a new stake in MFS Intermediate Income Trust in the 3rd quarter valued at about $54,000. Finally, GatePass Capital LLC purchased a new position in MFS Intermediate Income Trust in the 1st quarter worth approximately $65,000. 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.