Short Interest in MFS Intermediate Income Trust (NYSE:MIN) Sees 16% Increase

MFS Intermediate Income Trust (NYSE:MIN) experienced a notable rise in short interest during February. By February 28th, short interest reached 337,200 shares, marking a 16.0% increase from the 290,600 shares reported on February 13th. This means that approximately 0.3% of the total shares of the company are currently sold short. Given the average daily trading volume of 203,600 shares, the days-to-cover ratio stands at 1.7 days.

Performance of MFS Intermediate Income Trust Stock

On Wednesday, shares of NYSE:MIN rose by $0.01, bringing the stock price to $2.70. A total of 192,874 shares changed hands during the trading session, which is slightly lower than the average volume of 209,507 shares. Over the past year, MFS Intermediate Income Trust has recorded a low of $2.56 and a high of $2.79. The current 50-day and 200-day simple moving averages are $2.69 and $2.70, respectively.

Dividend Announcement from MFS Intermediate Income Trust

Recently, MFS Intermediate Income Trust declared a monthly dividend that is set to be paid on Monday, March 31st. Shareholders recorded as of Tuesday, March 18th will receive a dividend of $0.0196 per share. The ex-dividend date falls on the same day, March 18th. This monthly dividend translates to an annualized dividend of $0.24 and offers a yield of 8.75%, an increase from the previous monthly dividend of $0.02.

Institutional Investment in MFS Intermediate Income Trust

Several institutional investors have recently adjusted their positions in MFS Intermediate Income Trust. In the third quarter, Kingsview Wealth Management LLC boosted its holdings by 6.8%, owning 242,388 shares valued at approximately $659,000, following the acquisition of an additional 15,444 shares. Kovitz Investment Group Partners LLC also entered the scene, acquiring a stake valued at $604,000 in the same quarter. Similarly, Jane Street Group LLC made a new investment worth $92,000, while EP Wealth Advisors LLC increased its investment by 37.0%, holding 15,750 shares valued at $43,000. Transform Wealth LLC, in the fourth quarter, acquired a new position valued at $535,000. Overall, hedge funds and institutional investors now own around 50.90% of the company's outstanding shares.

About MFS Intermediate Income Trust

MFS Intermediate Income Trust is a closed-end mutual fund managed by Massachusetts Financial Services Company. The fund focuses on investments in fixed income markets globally, primarily targeting debt instruments. The performance of its portfolio is benchmarked against the Barclays Intermediate U.S. Index.

Conclusion

Investors should weigh their options carefully. Although MFS Intermediate Income Trust holds a Hold rating among analysts, there are suggestions to explore other investment opportunities that may yield better returns.

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