MFS Multimarket Income Trust $MMT Shares Acquired by 1607 Capital Partners LLC

Key Points

• 1607 Capital Partners LLC increased its holdings in MFS Multimarket Income Trust by 66.4% in the first quarter, acquiring an additional 243,267 shares for a total of 609,455 shares worth approximately $2.83 million.
• MFS Multimarket Income Trust has recently paid an increased monthly dividend of $0.0335 per share, which represents an annualized yield of 8.5%.
• The stock is currently down 0.8% and trading at $4.72, with a 1-year range between $4.31 and $4.90.

1607 Capital Partners LLC grew its position in MFS Multimarket Income Trust (NYSE:MMT - Free Report) by 66.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 609,455 shares of the closed-end fund's stock after buying an additional 243,267 shares during the quarter. 1607 Capital Partners LLC owned 1.10% of MFS Multimarket Income Trust worth $2,834,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. lifted its holdings in shares of MFS Multimarket Income Trust by 2.5% in the 1st quarter. Raymond James Financial Inc. now owns 857,321 shares of the closed-end fund's stock worth $3,987,000 after buying an additional 21,042 shares during the period. Invesco Ltd. raised its position in shares of MFS Multimarket Income Trust by 8.6% in the 1st quarter. Invesco Ltd. now owns 751,236 shares of the closed-end fund's stock worth $3,493,000 after acquiring an additional 59,190 shares in the last quarter. LPL Financial LLC raised its position in shares of MFS Multimarket Income Trust by 5.9% in the 1st quarter. LPL Financial LLC now owns 465,133 shares of the closed-end fund's stock worth $2,163,000 after acquiring an additional 25,828 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of MFS Multimarket Income Trust by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 371,451 shares of the closed-end fund's stock worth $1,727,000 after acquiring an additional 4,159 shares in the last quarter. Finally, Shaker Financial Services LLC raised its position in shares of MFS Multimarket Income Trust by 14.7% in the 1st quarter. Shaker Financial Services LLC now owns 309,055 shares of the closed-end fund's stock worth $1,437,000 after acquiring an additional 39,554 shares in the last quarter. 18.97% of the stock is currently owned by hedge funds and other institutional investors.

MFS Multimarket Income Trust Trading Up 0.8%

Shares of MMT traded up $0.04 during trading hours on Friday, hitting $4.78. The company had a trading volume of 46,285 shares, compared to its average volume of 72,847. MFS Multimarket Income Trust has a one year low of $4.31 and a one year high of $4.90. The company's fifty day moving average price is $4.69 and its two-hundred day moving average price is $4.63.

MFS Multimarket Income Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.0337 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a c) annualized dividend and a yield of 8.5%. This is an increase from MFS Multimarket Income Trust's previous monthly dividend of $0.03.

MFS Multimarket Income Trust 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.