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

MFS Intermediate High Income Fund (NYSE:CIF) rose 0.3% on Tuesday . The company traded as high as $1.72 and last traded at $1.72. Approximately 26,082 shares were traded 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 Price Performance

The company’s fifty day moving average price is $1.73 and its 200 day moving average price is $1.75.

MFS Intermediate High Income Fund Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CIF. L.M. Kohn & Company acquired a new position in shares of MFS Intermediate High Income Fund during the third quarter valued at approximately $28,000. Jane Street Group LLC bought a new position in MFS Intermediate High Income Fund during the 3rd quarter valued at $36,000. Apollon Wealth Management LLC acquired a new position in shares of MFS Intermediate High Income Fund during the 4th quarter valued at $66,000. Pin Oak Investment Advisors Inc. boosted its stake 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 buying an additional 45,000 shares in the last quarter. Finally, Sit Investment Associates Inc. grew its stake in shares of 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 worth $1,872,000 after purchasing an additional 488,365 shares during the last quarter. 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.