MFS Multimarket Income Trust (NYSE:MMT) Declares Monthly Dividend of $0.04

Key Points

• MFS Multimarket Income Trust declared a monthly dividend of $0.04 per share, payable October 30 to shareholders of record October 23. The annualized payout is $0.48, representing an 11.4% yield.
• MMT shares recently traded at $4.20, near their 1-year low of $4.15 and below both their 50-day and 200-day moving averages.
• Institutional ownership stands at 18.97%, with several investment firms—including Allspring, NewEdge Advisors and Cetera Investment Advisers—recently increasing their stakes.

MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) declared a monthly dividend on Friday, October 9th. Stockholders of record on Friday, October 23rd will be given a dividend of $0.04 per share by the closed-end fund on Friday, October 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date is Friday, October 23rd.

MFS Multimarket Income Trust Price Performance

Shares of NYSE MMT traded down $0.03 during trading hours on Wednesday, hitting $4.20. 32,860 shares of the company's stock were exchanged, compared to its average volume of 192,660. MFS Multimarket Income Trust has a 1-year low of $4.15 and a 1-year high of $4.79. The company's 50-day moving average price is $4.35 and its 200-day moving average price is $4.44.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 last quarter. Rivernorth Capital Management LLC acquired a new stake in shares of MFS Multimarket Income Trust in the first quarter worth $1,558,000. NewEdge Advisors LLC grew its stake 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 worth $825,000 after acquiring an additional 135,487 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of MFS Multimarket Income Trust by 75.7% in the first 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 during the last quarter. Finally, Fortitude Advisory Group L.L.C. increased its position in MFS Multimarket Income Trust by 83.9% during the second quarter. Fortitude Advisory Group L.L.C. now owns 163,481 shares of the closed-end fund's stock worth $719,000 after acquiring an additional 74,568 shares during the period. 18.97% of the stock is owned by institutional investors.

About MFS Multimarket Income Trust

MFS Multimarket Income Trust NYSE: MMT is a closed-end investment company managed by MFS Investment Management. The fund seeks to provide current income and, as a secondary objective, capital appreciation by investing in a diversified portfolio of fixed-income securities and other income-producing investments.

The trust may invest across multiple sectors, credit qualities and geographic regions, including U.S. and foreign government obligations, corporate bonds, mortgage- and asset-backed securities, emerging-market debt and high-yield securities.

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