MFS Intermediate Income Trust Stock Crosses Above 50-Day Average

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MFS Intermediate Income Trust (NYSE:MIN), a closed-end management investment company, saw its stock price cross above its 50-day moving average on Tuesday. The trust's shares last traded at $2.6050, with a trading volume of 221,295 shares. The trust, which seeks to provide a high level of current income while preserving capital, has a 50-day moving average of $2.62 and a 200-day moving average of $2.65.

Why it matters

Crossing above the 50-day moving average is often seen as a bullish technical signal, as it indicates the stock's short-term trend has turned positive. However, this can also prompt some investors to consider selling, as the stock may have become overbought in the near term.

The details

MFS Intermediate Income Trust also recently announced a monthly dividend of $0.0192 per share, which will be paid on February 27th to shareholders of record as of February 17th. This represents an annualized dividend yield of 8.8%. The trust's portfolio is managed by the fixed-income team at MFS Investment Management and typically includes investment-grade corporate bonds, mortgage- and asset-backed securities, and select non-investment-grade debt instruments.

• On Tuesday, MFS Intermediate Income Trust's stock price crossed above its 50-day moving average of $2.62.
• The trust will pay a monthly dividend of $0.0192 per share on February 27th to shareholders of record as of February 17th.

What’s next

Investors will be watching to see if MFS Intermediate Income Trust's stock price can maintain its momentum above the 50-day moving average, which could signal further upside potential. The trust's upcoming dividend payment on February 27th will also be of interest to income-focused investors.