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

MFS Intermediate Income Trust (NYSE:MIN) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.68 and traded as high as $2.70. MFS Intermediate Income Trust shares last traded at $2.69, with a volume of 172,347 shares trading hands.

MFS Intermediate Income Trust Stock Down 0.2 %

The firm’s 50 day simple moving average is $2.68 and its 200-day simple moving average is $2.71.

MFS Intermediate Income Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.0196 per share. This represents a $0.23 annualized dividend and a yield of 8.75%. The ex-dividend date is Tuesday, February 18th.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Large investors have recently modified their holdings of the company. Westfuller Advisors LLC acquired a new stake in MFS Intermediate Income Trust during the 3rd quarter worth $28,000. PFG Investments LLC purchased a new stake in shares of MFS Intermediate Income Trust in the third quarter valued at about $35,000. EP Wealth Advisors LLC boosted 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 buying an additional 4,250 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of MFS Intermediate Income Trust during the second quarter worth about $62,000. Finally, Jane Street Group LLC acquired a new position in MFS Intermediate Income Trust in the 3rd quarter valued at about $92,000. 50.90% of the stock is owned by institutional investors and hedge funds.

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.