1607 Capital Partners LLC Purchases 2,024,362 Shares of MFS Intermediate Income Trust (NYSE:MIN)

1607 Capital Partners LLC raised its stake in shares of MFS Intermediate Income Trust (NYSE:MIN - Free Report) by 36.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,575,555 shares of the financial services provider's stock after buying an additional 2,024,362 shares during the quarter. MFS Intermediate Income Trust comprises about 1.6% of 1607 Capital Partners LLC's investment portfolio, making the stock its 15th biggest holding. 1607 Capital Partners LLC owned about 6.66% of MFS Intermediate Income Trust worth $20,151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MIN. Jane Street Group LLC purchased a new position in MFS Intermediate Income Trust in the 3rd quarter worth approximately $92,000. Stephens Inc. AR grew its position in shares of MFS Intermediate Income Trust by 3.5% during the 4th quarter. Stephens Inc. AR now owns 119,555 shares of the financial services provider's stock valued at $318,000 after acquiring an additional 4,000 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of MFS Intermediate Income Trust in the 4th quarter worth $297,000. LPL Financial LLC raised its holdings in MFS Intermediate Income Trust by 10.9% in the 4th quarter. LPL Financial LLC now owns 407,475 shares of the financial services provider's stock worth $1,084,000 after purchasing an additional 39,954 shares during the period. Finally, Sit Investment Associates Inc. grew its holdings in MFS Intermediate Income Trust by 6.7% during the fourth quarter. Sit Investment Associates Inc. now owns 24,232,895 shares of the financial services provider's stock valued at $64,460,000 after purchasing an additional 1,523,468 shares during the period. 50.90% of the stock is owned by institutional investors.

MFS Intermediate Income Trust Trading Down 0.4 %

Shares of NYSE:MIN traded down $0.01 during mid-day trading on Monday, reaching $2.64. 11,515 shares of the company traded hands, compared to its average volume of 198,814. MFS Intermediate Income Trust has a 52 week low of $2.56 and a 52 week high of $2.79. The company's 50 day moving average price is $2.69 and its 200-day moving average price is $2.69.

MFS Intermediate Income Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.0197 per share. This represents a $0.24 annualized dividend and a yield of 8.94%. The ex-dividend date of this dividend is Tuesday, April 15th. This is a boost from MFS Intermediate Income Trust's previous monthly dividend of $0.02.

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.