MFS Intermediate Income Trust (NYSE:MIN) Sees Significant Decrease in Short Interest

MFS Intermediate Income Trust (NYSE:MIN) was the target of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 69,900 shares, a decline of 36.6% from the June 15th total of 110,300 shares. Based on an average daily trading volume, of 217,100 shares, the short-interest ratio is presently 0.3 days.

MFS Intermediate Income Trust Stock Performance

Shares of NYSE:MIN remained flat at $2.70 on Friday. 4,351 shares of the stock traded hands, compared to its average volume of 275,224. The stock has a fifty day moving average price of $2.64 and a 200 day moving average price of $2.68. MFS Intermediate Income Trust has a 1-year low of $2.52 and a 1-year high of $2.85.

MFS Intermediate Income Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th will be paid a dividend of $0.0201 per share. The ex-dividend date of this dividend is Tuesday, July 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 8.92%. This is a positive change from MFS Intermediate Income Trust’s previous monthly dividend of $0.02.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Several hedge funds have recently bought and sold shares of MIN. Karpus Management Inc. grew its position in shares of MFS Intermediate Income Trust by 50.6% during the 1st quarter. Karpus Management Inc. now owns 7,640,671 shares of the financial services provider’s stock valued at $20,324,000 after acquiring an additional 2,568,806 shares during the period. Significant Wealth Partners LLC acquired a new stake in MFS Intermediate Income Trust during the fourth quarter worth about $1,463,000. Relative Value Partners Group LLC increased its position in MFS Intermediate Income Trust by 3.9% during the fourth quarter. Relative Value Partners Group LLC now owns 311,503 shares of the financial services provider’s stock worth $835,000 after purchasing an additional 11,750 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of MFS Intermediate Income Trust by 7.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 226,712 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 15,551 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of MFS Intermediate Income Trust by 38.5% during the 1st quarter. Private Advisor Group LLC now owns 136,308 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 37,918 shares during the period. 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.