MFS Multimarket Income Trust (NYSE:MMT) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

Shares of MFS Multimarket Income Trust (NYSE:MMT) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.58 and traded as low as $4.44. MFS Multimarket Income Trust shares last traded at $4.4550, with a volume of 577,441 shares changing hands.

MFS Multimarket Income Trust Stock Performance

The stock’s 50 day moving average is $4.46 and its 200-day moving average is $4.57.

MFS Multimarket Income Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 23rd will be given a $0.04 dividend. This is an increase from MFS Multimarket Income Trust’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a yield of 10.9%. The ex-dividend date is Thursday, July 23rd.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Several large investors have recently added to or reduced their stakes in MMT. Advisors Asset Management Inc. bought a new stake in shares of MFS Multimarket Income Trust in the 4th quarter valued at approximately $1,833,000. Sit Investment Associates Inc. lifted its position in MFS Multimarket Income Trust by 127.2% in the fourth quarter. Sit Investment Associates Inc. now owns 642,159 shares of the closed-end fund’s stock worth $2,986,000 after buying an additional 359,502 shares during the last quarter. Rivernorth Capital Management LLC bought a new stake in MFS Multimarket Income Trust in the first quarter worth $1,558,000. Allspring Global Investments Holdings LLC boosted its stake in MFS Multimarket Income Trust by 3.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,450,887 shares of the closed-end fund’s stock worth $15,943,000 after buying an additional 106,882 shares during the period. Finally, Pathstone Holdings LLC boosted its stake in MFS Multimarket Income Trust by 19.6% during the third quarter. Pathstone Holdings LLC now owns 603,311 shares of the closed-end fund’s stock worth $2,884,000 after buying an additional 98,797 shares during the period. 18.97% of the stock is owned by institutional investors.

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.