MFS Intermediate Income Trust (NYSE:MIN) Short Interest Update

MFS Intermediate Income Trust (NYSE:MIN) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 227,728 shares, a decline of 36.4% from the August 31st total of 358,020 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 299,783 shares, the days-to-cover ratio is currently 0.8 days.

MFS Intermediate Income Trust Trading Up 1.5%

MIN stock opened at $2.33 on Friday. The company has a 50 day simple moving average of $2.40 and a 200 day simple moving average of $2.44. MFS Intermediate Income Trust has a 1 year low of $2.30 and a 1 year high of $2.68.

MFS Intermediate Income Trust’s stock is scheduled to reverse split before the market opens on Thursday, October 8th. The 1-6 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, October 7th.

MFS Intermediate Income Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd were paid a dividend of $0.02 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend was Tuesday, September 22nd.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GatePass Capital LLC boosted its holdings in shares of MFS Intermediate Income Trust by 2,212.3% during the 2nd quarter. GatePass Capital LLC now owns 601,200 shares of the financial services provider’s stock valued at $1,485,000 after acquiring an additional 575,200 shares in the last quarter. Sit Investment Associates Inc. grew its position in MFS Intermediate Income Trust by 0.7% during the 4th quarter. Sit Investment Associates Inc. now owns 29,167,975 shares of the financial services provider’s stock worth $76,128,000 after acquiring an additional 213,250 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in MFS Intermediate Income Trust by 24.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 333,668 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 65,151 shares in the last quarter. Advisory Solutions Group LLC acquired a new position in MFS Intermediate Income Trust in the 2nd quarter worth about $43,000. Finally, Compound Planning Inc. raised its position in MFS Intermediate Income Trust by 49.9% in the first quarter. Compound Planning Inc. now owns 25,797 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 8,584 shares during the last quarter. 50.90% of the stock is currently owned by institutional investors and hedge funds.

About MFS Intermediate Income Trust

MFS Intermediate Income Trust (NYSE:MIN) is a closed-end management investment company that seeks to provide high current income while maintaining prudent portfolio diversification. The fund invests primarily in fixed-income securities, including government and corporate bonds, mortgage-backed securities, asset-backed securities and other debt instruments.

The portfolio may include securities issued by companies and governments in the United States and other countries. MFS Investment Management serves as the fund’s investment adviser and manages the portfolio using research and credit analysis to identify income-producing opportunities across intermediate-term debt markets.

MFS Intermediate Income Trust is part of the MFS family of investment products, which has a long history of managing mutual funds and other investment vehicles.