MFS Intermediate Income Trust (NYSE:MIN) Stock Price Passes Above 50-Day Moving Average – Should You Sell?

MFS Intermediate Income Trust (NYSE:MIN) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.67 and traded as high as $2.72. MFS Intermediate Income Trust shares last traded at $2.70, with a volume of 352,854 shares trading hands.

MFS Intermediate Income Trust Stock Up 0.7 %

The stock has a 50 day simple moving average of $2.67 and a two-hundred day simple moving average of $2.71.

MFS Intermediate Income Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a $0.0196 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 8.70%. The ex-dividend date is Tuesday, February 18th.

Institutional Investors Weigh In On MFS Intermediate Income Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MIN. Westfuller Advisors LLC purchased a new stake in MFS Intermediate Income Trust in the third quarter valued at approximately $28,000. PFG Investments LLC purchased a new stake in shares of MFS Intermediate Income Trust during the third quarter worth approximately $35,000. EP Wealth Advisors LLC raised its stake in shares of MFS Intermediate Income Trust by 37.0% during the third quarter. EP Wealth Advisors LLC now owns 15,750 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 4,250 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of MFS Intermediate Income Trust during the fourth quarter worth approximately $45,000. Finally, XTX Topco Ltd purchased a new stake in shares of MFS Intermediate Income Trust during the fourth quarter worth approximately $67,000. Hedge funds and other institutional investors own 50.90% of the company’s stock.

About MFS Intermediate Income Trust

MFS Intermediate Income Trust is a closed ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets across the globe. It primarily invests in debt instruments. The fund seeks to benchmarks the performance of its portfolio against the Barclays Intermediate U.S.