Mfs Govt Mkts (NYSE:MGF) Stock Short Interest Falls 76.0%

Mfs Govt Mkts (NYSE:MGF) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totaling 17,985 shares, a decline of 76.0% from the August 31st total of 74,959 shares. Based on an average daily trading volume, of 117,003 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Mfs Govt Mkts

Institutional investors have recently modified their holdings of the company. 1607 Capital Partners LLC increased its holdings in Mfs Govt Mkts by 5.0% in the second quarter. 1607 Capital Partners LLC now owns 2,392,698 shares of the company’s stock valued at $6,867,000 after buying an additional 113,961 shares during the last quarter. Citadel Advisors LLC boosted its position in shares of Mfs Govt Mkts by 606.8% during the 2nd quarter. Citadel Advisors LLC now owns 75,970 shares of the company’s stock worth $218,000 after acquiring an additional 65,222 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in shares of Mfs Govt Mkts by 44.5% during the 2nd quarter. Ameritas Advisory Services LLC now owns 139,560 shares of the company’s stock worth $401,000 after acquiring an additional 42,989 shares in the last quarter. Fortitude Advisory Group L.L.C. increased its holdings in shares of Mfs Govt Mkts by 7.4% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 90,114 shares of the company’s stock valued at $259,000 after acquiring an additional 6,185 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Mfs Govt Mkts by 12.6% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 101,447 shares of the company’s stock worth $291,000 after acquiring an additional 11,365 shares in the last quarter. 54.77% of the stock is owned by hedge funds and other institutional investors.

Mfs Govt Mkts Stock Down 0.2%

Shares of MGF stock traded down $0.01 during trading hours on Friday, reaching $2.70. 57,224 shares of the stock were exchanged, compared to its average volume of 75,146. The business’s fifty day moving average is $2.82 and its two-hundred day moving average is $2.86. Mfs Govt Mkts has a 12-month low of $2.69 and a 12-month high of $3.13.

Mfs Govt Mkts shares are scheduled to reverse split before the market opens on Thursday, October 8th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, October 7th.

Mfs Govt Mkts Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be given a $0.02 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 8.9%.

Mfs Govt Mkts Company Profile

MFS Government Markets Income Trust (NYSE: MGF) is a closed-end investment company managed by MFS Investment Management. The trust seeks to provide current income by investing primarily in securities issued or guaranteed by the U.S. government, its agencies and instrumentalities.

Its portfolio may include Treasury securities, agency securities and mortgage-backed securities, along with other fixed-income investments considered consistent with its investment objectives. The value and income of these holdings can be affected by changes in interest rates, credit conditions and prepayment activity.

The trust provides investors with access to a professionally managed portfolio focused on government-related fixed-income markets.