Rivernorth Capital Management LLC Invests $1.56 Million in MFS Multimarket Income Trust $MMT

Key Points

• Rivernorth Capital Management acquired 337,192 shares of MFS Multimarket Income Trust, valued at approximately $1.56 million and representing about 0.61% of the fund.
• Several other institutional investors increased their MMT holdings, with hedge funds and institutions collectively owning 18.97% of the trust’s stock.
• MMT shares opened at $4.33, near their 52-week low, while the trust raised its monthly dividend to $0.04 per share, implying an annualized yield of approximately 11.1%.

Rivernorth Capital Management LLC acquired a new stake in shares of MFS Multimarket Income Trust (NYSE:MMT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 337,192 shares of the closed-end fund's stock, valued at approximately $1,558,000. Rivernorth Capital Management LLC owned approximately 0.61% of MFS Multimarket Income Trust as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MMT. Allspring Global Investments Holdings LLC raised its position in shares of MFS Multimarket Income Trust by 3.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,450,887 shares of the closed-end fund's stock valued at $15,943,000 after acquiring an additional 106,882 shares in the last quarter. Raymond James Financial Inc. increased its stake in MFS Multimarket Income Trust by 6.6% during the second quarter. Raymond James Financial Inc. now owns 913,667 shares of the closed-end fund's stock valued at $4,294,000 after purchasing an additional 56,346 shares during the last quarter. Invesco Ltd. raised its holdings in shares of MFS Multimarket Income Trust by 1.1% during the third quarter. Invesco Ltd. now owns 771,385 shares of the closed-end fund's stock worth $3,687,000 after purchasing an additional 8,367 shares during the period. Sit Investment Associates Inc. lifted its position in shares of MFS Multimarket Income Trust by 127.2% in the 4th 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. Finally, Pathstone Holdings LLC boosted its holdings in shares of MFS Multimarket Income Trust by 19.6% in the 3rd quarter. Pathstone Holdings LLC now owns 603,311 shares of the closed-end fund's stock valued at $2,884,000 after buying an additional 98,797 shares during the period. Institutional investors and hedge funds own 18.97% of the company's stock.

MFS Multimarket Income Trust Stock Down 0.3%

Shares of NYSE:MMT opened at $4.33 on Thursday. MFS Multimarket Income Trust has a fifty-two week low of $4.31 and a fifty-two week high of $4.87. The firm has a 50-day simple moving average of $4.45 and a 200 day simple moving average of $4.56.

MFS Multimarket Income Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd will be issued a dividend of $0.04 per share. This represents a c) annualized dividend and a dividend yield of 11.1%. This is a boost from MFS Multimarket Income Trust's previous monthly dividend of $0.03. The ex-dividend date of this dividend is Thursday, July 23rd.

MFS Multimarket Income Trust 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.

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