Todd Reit Purchases 4,400 Shares of MFS Intermediate Income Trust (NYSE:MIN) Stock

MFS Intermediate Income Trust (NYSE:MIN) Director Todd Reit acquired 4,400 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were acquired at an average price of $2.49 per share, with a total value of $10,956.00. Following the completion of the purchase, the director owned 4,400 shares of the company’s stock, valued at $10,956. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

MFS Intermediate Income Trust Price Performance

MFS Intermediate Income Trust stock opened at $2.40 on Thursday. The firm has a fifty day moving average of $2.44 and a 200-day moving average of $2.50. MFS Intermediate Income Trust has a 52-week low of $2.39 and a 52-week high of $2.72.

MFS Intermediate Income Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 23rd will be given a dividend of $0.02 per share. This is a positive change from MFS Intermediate Income Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a c) dividend on an annualized basis and a yield of 10.0%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. lifted its stake in shares of MFS Intermediate Income Trust by 0.7% during the fourth quarter. Sit Investment Associates Inc. now owns 29,167,975 shares of the financial services provider’s stock worth $76,128,000 after purchasing an additional 213,250 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of MFS Intermediate Income Trust by 6.8% in the third 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 in the last quarter. Bank of America Corp DE raised its holdings in shares of MFS Intermediate Income Trust by 26.2% during 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 period. Equitable Holdings Inc. raised its holdings in shares of MFS Intermediate Income Trust by 20.8% during the 4th 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. lifted its position in MFS Intermediate Income Trust by 3.6% during the 4th quarter. Osaic Holdings Inc. now owns 2,107,608 shares of the financial services provider’s stock worth $5,501,000 after acquiring an additional 72,988 shares in the last quarter. 50.90% of the stock is owned by hedge funds and other institutional investors.

MFS Intermediate Income Trust Company Profile

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.