MFS Intermediate High Income Fund (NYSE:CIF) Stock Price Up 0.3% – Should You Buy?

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

MFS Intermediate High Income Fund Trading Up 0.3 %

The company has a 50-day moving average of $1.73 and a 200-day moving average of $1.75.

MFS Intermediate High Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $0.0147 dividend. This is a positive change from MFS Intermediate High Income Fund’s previous monthly dividend of $0.01. This represents a $0.18 dividend on an annualized basis and a dividend yield of 10.27%. The ex-dividend date of this dividend is Tuesday, March 18th.

Institutional Trading of MFS Intermediate High Income Fund

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

About MFS Intermediate High Income Fund

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.