MFS Intermediate Income Trust Stock Scheduled to Reverse Split on Thursday, October 8th (NYSE:MIN)

MFS Intermediate Income Trust (NYSE:MIN – Free Report)’s stock is set to reverse split before the market opens on Thursday, October 8th. The 1-6 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, October 7th.

MFS Intermediate Income Trust Trading Up 0.7%

NYSE MIN opened at $2.31 on Friday. MFS Intermediate Income Trust has a twelve month low of $2.30 and a twelve month high of $2.68. The firm’s 50 day moving average price is $2.41 and its two-hundred day moving average price is $2.45.

MFS Intermediate Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be issued a $0.02 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 10.4%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MIN. Ameritas Advisory Services LLC boosted its position in MFS Intermediate Income Trust by 24.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 333,668 shares of the financial services provider’s stock worth $824,000 after acquiring an additional 65,151 shares during the period. Advisory Solutions Group LLC purchased a new stake in shares of MFS Intermediate Income Trust in the second quarter worth approximately $43,000. GatePass Capital LLC lifted its position in shares of MFS Intermediate Income Trust by 2,212.3% in the second quarter. GatePass Capital LLC now owns 601,200 shares of the financial services provider’s stock worth $1,485,000 after purchasing an additional 575,200 shares in the last quarter. Compound Planning Inc. boosted its holdings in shares of MFS Intermediate Income Trust by 49.9% during the first quarter. Compound Planning Inc. now owns 25,797 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 8,584 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of MFS Intermediate Income Trust by 1.5% during the first quarter. Private Advisor Group LLC now owns 347,425 shares of the financial services provider’s stock worth $872,000 after purchasing an additional 5,075 shares during the period. 50.90% of the stock is owned by institutional investors and hedge funds.

About MFS Intermediate Income Trust

(Get Free Report)

MFS Intermediate Income Trust NYSE: MIN is a closed-end management investment company that seeks to provide high current income while maintaining prudent portfolio diversification. The fund invests primarily in fixed-income securities, including government and corporate bonds, mortgage-backed securities, asset-backed securities and other debt instruments.

The portfolio may include securities issued by companies and governments in the United States and other countries. MFS Investment Management serves as the fund’s investment adviser and manages the portfolio using research and credit analysis to identify income-producing opportunities across intermediate-term debt markets.

MFS Intermediate Income Trust is part of the MFS family of investment products, which has a long history of managing mutual funds and other investment vehicles.

Featured Stories

• Five stocks we like better than MFS Intermediate Income Trust
• Costco Ends Its Fiscal Year on a High Note, Eyes Big Expansion
• Cracker Barrel Stock Is Rallying Again, But the Turnaround Still Has a Traffic Problem
• Oracle’s Force Majeure Notice Exposes a Bigger Problem for the AI Build-Out
• Oil May Be Stronger Than It Looks—And Diamondback Is on Sale

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in MFS Intermediate Income Trust Right Now?

Before you consider MFS Intermediate Income Trust, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and MFS Intermediate Income Trust wasn’t on the list.

While MFS Intermediate Income Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here