MFS Intermediate High Income Fund (NYSE:CIF) Sees Large Drop in Short Interest

MFS Intermediate High Income Fund (NYSE:CIF) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 41,100 shares, a drop of 21.3% from the October 15th total of 52,200 shares. Based on an average daily volume of 57,200 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On MFS Intermediate High Income Fund

A number of institutional investors have recently made changes to their positions in CIF. L.M. Kohn & Company bought a new position in MFS Intermediate High Income Fund during the 3rd quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. boosted 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 purchasing an additional 45,000 shares in the last quarter. Finally, Wolverine Asset Management LLC increased its position in shares of MFS Intermediate High Income Fund by 146.0% in the 3rd quarter. Wolverine Asset Management LLC now owns 47,898 shares of the company’s stock valued at $85,000 after buying an additional 28,430 shares in the last quarter. 6.85% of the stock is owned by institutional investors and hedge funds.

MFS Intermediate High Income Fund Stock Down 0.4 %

Shares of NYSE:CIF traded down $0.01 during trading on Friday, hitting $1.71. 35,043 shares of the company’s stock were exchanged, compared to its average volume of 47,667. The firm has a 50-day moving average price of $1.77 and a two-hundred day moving average price of $1.73. MFS Intermediate High Income Fund has a 1-year low of $1.60 and a 1-year high of $1.83.

MFS Intermediate High Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.0149 per share. This represents a $0.18 annualized dividend and a dividend yield of 10.46%. The ex-dividend date of this dividend is Tuesday, November 12th.

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.