MFS Intermediate High Income Fund (NYSE:CIF) Trading 0.3% Higher – Still a Buy?

MFS Intermediate High Income Fund (NYSE:CIF)’s share price traded up 0.3% during trading on Tuesday . The company traded as high as $1.72 and last traded at $1.72. 26,082 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 68,961 shares. The stock had previously closed at $1.71.

MFS Intermediate High Income Fund Trading Up 0.3 %

The stock’s 50-day moving average is $1.73 and its 200-day moving average is $1.75.

MFS Intermediate High Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $0.0147 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 10.33%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from MFS Intermediate High Income Fund’s previous monthly dividend of $0.01.

Hedge Funds Weigh In On MFS Intermediate High Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sit Investment Associates Inc. boosted its position in MFS Intermediate High Income Fund by 82.3% in the 4th quarter. Sit Investment Associates Inc. now owns 1,082,086 shares of the company’s stock valued at $1,872,000 after buying an additional 488,365 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in shares of MFS Intermediate High Income Fund by 79.5% in the third quarter. Pin Oak Investment Advisors Inc. now owns 101,600 shares of the company’s stock worth $180,000 after acquiring an additional 45,000 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in MFS Intermediate High Income Fund in the fourth quarter valued at about $66,000. Jane Street Group LLC acquired a new stake in MFS Intermediate High Income Fund during the 3rd quarter valued at approximately $36,000. Finally, L.M. Kohn & Company purchased a new stake in MFS Intermediate High Income Fund during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 6.85% of the company’s stock.

MFS Intermediate High Income Fund Company Profile

MFS Intermediate High Income Fund is a closed ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets of the United States. It primarily invests in high income debt instruments. The fund benchmarks the performance of its portfolio against Barclays U.S.