MFS Multimarket Income Trust (NYSE:MMT) Share Price Passes Above 200 Day Moving Average – Here’s Why

MFS Multimarket Income Trust (NYSE:MMT) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.74 and traded as high as $4.75. MFS Multimarket Income Trust shares last traded at $4.74, with a volume of 70,393 shares.

MFS Multimarket Income Trust Stock Down 0.2 %

The stock’s 50-day moving average price is $4.75 and its 200 day moving average price is $4.74.

MFS Multimarket Income Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.0339 dividend. This represents a $0.41 annualized dividend and a dividend yield of 8.57%. The ex-dividend date is Tuesday, December 17th.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Several large investors have recently made changes to their positions in the stock. Atomi Financial Group Inc. raised its position in MFS Multimarket Income Trust by 19.5% during the second quarter. Atomi Financial Group Inc. now owns 55,809 shares of the closed-end fund’s stock worth $261,000 after acquiring an additional 9,110 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of MFS Multimarket Income Trust by 23.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 168,469 shares of the closed-end fund’s stock worth $788,000 after purchasing an additional 32,358 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of MFS Multimarket Income Trust in the 3rd quarter valued at about $320,000. Allspring Global Investments Holdings LLC lifted its stake in MFS Multimarket Income Trust by 36.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,251,335 shares of the closed-end fund’s stock valued at $15,216,000 after purchasing an additional 875,755 shares during the last quarter. Finally, Shaker Financial Services LLC grew its holdings in MFS Multimarket Income Trust by 13.1% during the third quarter. Shaker Financial Services LLC now owns 286,096 shares of the closed-end fund’s stock worth $1,393,000 after purchasing an additional 33,239 shares during the period. Institutional investors and hedge funds own 18.97% of the company’s stock.

MFS Multimarket Income Trust Company Profile

MFS Multimarket Income Trust is a closed ended fixed income mutual fund launched and managed by MFS Investment Management, Inc The fund invests in the fixed income markets across the globe with greater emphasis on United States. It seeks to invest in fixed income securities issued by U.S. Government, foreign government, mortgage backed, and other asset-backed securities of U.S.