MFS Multimarket Income Trust (NYSE:MMT) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Shares of MFS Multimarket Income Trust (NYSE:MMT) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.72 and traded as low as $4.68. MFS Multimarket Income Trust shares last traded at $4.6850, with a volume of 54,691 shares.

MFS Multimarket Income Trust Stock Performance

The firm’s fifty day moving average price is $4.70 and its 200 day moving average price is $4.72.

MFS Multimarket Income Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be paid a $0.0338 dividend. This represents a c) dividend on an annualized basis and a yield of 8.6%. This is an increase from MFS Multimarket Income Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, February 17th.

Institutional Investors Weigh In On MFS Multimarket Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Focus Partners Wealth increased its holdings in MFS Multimarket Income Trust by 14.1% in the first quarter. Focus Partners Wealth now owns 28,645 shares of the closed-end fund’s stock worth $133,000 after buying an additional 3,550 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of MFS Multimarket Income Trust by 780.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 10,155 shares of the closed-end fund’s stock worth $47,000 after purchasing an additional 9,001 shares during the last quarter. Allworth Financial LP bought a new position in shares of MFS Multimarket Income Trust during the 2nd quarter valued at $176,000. Franklin Resources Inc. bought a new position in shares of MFS Multimarket Income Trust during the 2nd quarter valued at $97,000. Finally, Invesco Ltd. lifted its stake in shares of MFS Multimarket Income Trust by 1.6% in the 2nd quarter. Invesco Ltd. now owns 763,018 shares of the closed-end fund’s stock valued at $3,586,000 after purchasing an additional 11,782 shares during the last quarter. 18.97% of the stock is owned by hedge funds and other institutional investors.

MFS Multimarket Income Trust Company Profile

MFS Multimarket Income Trust (NYSE: MMT) is a closed-end management investment company that seeks to provide high current income through investments in a diversified global portfolio of income-producing securities. Launched in 1987, the trust is managed by MFS Investment Management, a Boston-based asset manager with roots dating back to 1924. MFS Investment Management acts as the investment adviser and leverages its multi-asset research capabilities to build and monitor MMT’s portfolio on behalf of shareholders.

The trust’s principal investment activities encompass a broad range of fixed-income and equity-related instruments.