MFS Multimarket Income Trust (NYSE:MMT) Shares Scheduled to Reverse Split on Monday, November 9th

MFS Multimarket Income Trust (NYSE:MMT)’s stock is set to reverse split on Monday, November 9th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, November 8th.

MFS Multimarket Income Trust Price Performance

Shares of MMT stock opened at $4.29 on Thursday. The company’s fifty day simple moving average is $4.30 and its 200-day simple moving average is $4.48. MFS Multimarket Income Trust has a 12 month low of $4.12 and a 12 month high of $4.79.

MFS Multimarket Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 23rd were issued a dividend of $0.04 per share. This represents a $0.48 annualized dividend and a yield of 11.2%. The ex-dividend date was Friday, October 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rivernorth Capital Management LLC acquired a new position in shares of MFS Multimarket Income Trust in the first quarter valued at $1,558,000. NewEdge Advisors LLC raised its position in shares of MFS Multimarket Income Trust by 260.5% in the second quarter. NewEdge Advisors LLC now owns 187,488 shares of the closed-end fund’s stock valued at $825,000 after buying an additional 135,487 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of MFS Multimarket Income Trust by 3.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,450,887 shares of the closed-end fund’s stock valued at $15,943,000 after acquiring an additional 106,882 shares during the period. Readystate Asset Management LP acquired a new stake in MFS Multimarket Income Trust during the second quarter worth about $365,000. Finally, Cetera Investment Advisers boosted its position in shares of MFS Multimarket Income Trust by 75.7% during the 1st quarter. Cetera Investment Advisers now owns 178,117 shares of the closed-end fund’s stock worth $823,000 after acquiring an additional 76,756 shares in the last quarter. 18.97% of the stock is currently owned by institutional investors.

MFS Multimarket Income Trust Company Profile

MFS Multimarket Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol MMT. The fund seeks to provide high current income, with capital appreciation as a secondary objective, by investing in a diversified portfolio of fixed-income securities.

The trust invests across multiple sectors and geographies, including government and corporate debt, mortgage-backed and asset-backed securities, and securities issued by companies and governments in developed and emerging markets.