MFS Intermediate High Income Fund (NYSE:CIF) Stock Price Up 0.6% After Dividend Announcement

MFS Intermediate High Income Fund (NYSE:CIF) shares shot up 0.6% during trading on Thursday following a dividend announcement from the company. The stock traded as high as $1.75 and last traded at $1.74. 95,261 shares traded hands during trading, an increase of 86% from the average session volume of 51,257 shares. The stock had previously closed at $1.73.

The newly announced dividend which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 14th will be issued a $0.0147 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 10.17%. The ex-dividend date of this dividend is Tuesday, January 14th.

MFS Intermediate High Income Fund Price Performance

The stock has a 50 day simple moving average of $1.74 and a 200 day simple moving average of $1.75.

Institutional Trading of MFS Intermediate High Income Fund

Hedge funds have recently made changes to their positions in the stock. Wolverine Asset Management LLC increased its position in MFS Intermediate High Income Fund by 6,389.3% in the second quarter. Wolverine Asset Management LLC now owns 19,468 shares of the company’s stock worth $33,000 after buying an additional 19,168 shares during the period. Pin Oak Investment Advisors Inc. grew its position in shares of 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 worth $180,000 after acquiring an additional 45,000 shares during the last quarter. L.M. Kohn & Company acquired a new stake in shares of MFS Intermediate High Income Fund in the 3rd quarter worth about $28,000. Finally, Jane Street Group LLC bought a new stake in MFS Intermediate High Income Fund in the 3rd quarter valued at about $36,000. Institutional investors 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.