MFS Multimarket Income Trust (NYSE:MMT) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

MFS Multimarket Income Trust (NYSE:MMT) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.65 and traded as low as $4.53. MFS Multimarket Income Trust shares last traded at $4.5350, with a volume of 81,754 shares traded.

MFS Multimarket Income Trust Trading Down 0.1%

The company has a fifty day moving average price of $4.56 and a 200 day moving average price of $4.65.

MFS Multimarket Income Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be issued a dividend of $0.033 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This is a positive change from MFS Multimarket Income Trust’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a dividend yield of 8.8%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Impact Capital Partners LLC purchased a new position in shares of MFS Multimarket Income Trust during the third quarter worth about $48,000. Geneos Wealth Management Inc. grew its holdings in shares of MFS Multimarket Income Trust by 780.0% during the first 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 in the last quarter. Park Avenue Securities LLC purchased a new position in shares of MFS Multimarket Income Trust during the third quarter worth about $49,000. Gerald Baker Financial Group LLC purchased a new position in shares of MFS Multimarket Income Trust during the first quarter worth about $57,000. Finally, Melfa Wealth Management Inc. purchased a new position in shares of MFS Multimarket Income Trust during the fourth quarter worth about $72,000. Hedge funds and other institutional investors own 18.97% of the company’s stock.

About MFS Multimarket Income Trust

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.