MFS Intermediate Income Trust (NYSE:MIN) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

MFS Intermediate Income Trust (NYSE:MIN)’s stock price passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $14.07 and traded as low as $14.02. MFS Intermediate Income Trust shares last traded at $14.0410, with a volume of 17,954 shares trading hands.

MFS Intermediate Income Trust Price Performance

The stock has a 50-day simple moving average of $14.07 and a 200-day simple moving average of $14.69.

MFS Intermediate Income Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.4%. This is a decrease from MFS Intermediate Income Trust’s previous monthly dividend of $0.12. The ex-dividend date of this dividend is Friday, November 20th.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in MIN. Private Advisor Group LLC acquired a new position in MFS Intermediate Income Trust during the 3rd quarter worth approximately $739,000. Allspring Global Investments Holdings LLC boosted its position in MFS Intermediate Income Trust by 3.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,281,075 shares of the financial services provider’s stock valued at $9,932,000 after buying an additional 146,117 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in MFS Intermediate Income Trust by 24.3% in the second quarter. Ameritas Advisory Services LLC now owns 333,668 shares of the financial services provider’s stock valued at $824,000 after buying an additional 65,151 shares in the last quarter. Advisory Solutions Group LLC acquired a new stake in MFS Intermediate Income Trust in the second quarter valued at approximately $43,000. Finally, GatePass Capital LLC boosted its position in MFS Intermediate Income Trust by 2,212.3% in the second quarter. GatePass Capital LLC now owns 601,200 shares of the financial services provider’s stock valued at $1,485,000 after buying an additional 575,200 shares in the last quarter. 50.90% of the stock is owned by institutional investors.

MFS Intermediate Income Trust Company Profile

MFS Intermediate Income Trust is a closed-end investment fund that seeks to provide a high level of current income. Its investment objective also allows for capital appreciation as a secondary consideration. The fund invests primarily in debt securities, including bonds issued by companies and governments. Its portfolio may include securities from U.S. and non-U.S. issuers, giving it exposure to fixed-income markets across multiple geographies. MFS Investment Management serves as the fund’s investment adviser.