MFS Intermediate High Income Fund (NYSE:CIF) Stock Price Up 0.6% Following Dividend Announcement

Shares of MFS Intermediate High Income Fund (NYSE:CIF) rose 0.6% during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $1.75 and last traded at $1.74. Approximately 95,261 shares traded hands during trading, an increase of 86% from the average daily volume of 51,257 shares. The stock had previously closed at $1.73.

The newly announced dividend which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 14th will be issued a $0.0147 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 10.17%. The ex-dividend date is Tuesday, January 14th.

MFS Intermediate High Income Fund Stock Performance

The business’s 50-day moving average price is $1.74 and its 200 day moving average price is $1.75.

Institutional Trading of MFS Intermediate High Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of CIF. L.M. Kohn & Company bought a new position in MFS Intermediate High Income Fund during the 3rd quarter valued at $28,000. Wolverine Asset Management LLC raised its stake in shares of MFS Intermediate High Income Fund by 6,389.3% in the 2nd quarter. Wolverine Asset Management LLC now owns 19,468 shares of the company’s stock valued at $33,000 after purchasing an additional 19,168 shares in the last quarter. Jane Street Group LLC bought a new position in shares of MFS Intermediate High Income Fund during the third quarter worth about $36,000. Finally, Pin Oak Investment Advisors Inc. lifted its position in shares of MFS Intermediate High Income Fund by 79.5% during the third quarter. Pin Oak Investment Advisors Inc. now owns 101,600 shares of the company’s stock worth $180,000 after purchasing an additional 45,000 shares during the last quarter. 6.85% of the stock is owned by hedge funds and other institutional investors.

About MFS Intermediate High Income Fund

MFS Intermediate High Income Fund is a closed ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets of the United States. It primarily invests in high income debt instruments. The fund benchmarks the performance of its portfolio against Barclays U.S.