MFS Multimarket Income Trust (NYSE:MMT) Share Price Passes Below 200 Day Moving Average – Time to Sell?

MFS Multimarket Income Trust (NYSE:MMT) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.52 and traded as low as $4.38. MFS Multimarket Income Trust shares last traded at $4.4050, with a volume of 227,864 shares changing hands.

MFS Multimarket Income Trust Price Performance

The business’s 50-day moving average is $4.42 and its two-hundred day moving average is $4.52.

MFS Multimarket Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its position in shares of MFS Multimarket Income Trust by 780.0% in the first quarter. Geneos Wealth Management Inc. now owns 10,155 shares of the closed-end fund’s stock valued at $47,000 after buying an additional 9,001 shares during the last quarter. Gerald Baker Financial Group LLC acquired a new stake in shares of MFS Multimarket Income Trust during the 1st quarter worth approximately $57,000. First Heartland Consultants Inc. bought a new position in shares of MFS Multimarket Income Trust in the 2nd quarter valued at $66,000. Beacon Pointe Advisors LLC acquired a new position in MFS Multimarket Income Trust during the fourth quarter worth about $73,000. Finally, Jane Street Group LLC acquired a new position in MFS Multimarket Income Trust during the 2nd quarter worth approximately $84,000. 18.97% of the stock is currently owned by institutional investors and hedge funds.

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.