Insider Buying: MFS Multimarket Income Trust (NYSE:MMT) Director Acquires 2,500 Shares of Stock

Key Points

• Director Todd Reit purchased 2,500 MMT shares at an average price of $4.47, investing a total of $11,175 and taking direct ownership of 2,500 shares.
• MMT shares fell 0.3% to $4.33, near the stock’s 52-week low of $4.31. Institutional investors and hedge funds own approximately 18.97% of the fund.
• The trust increased its monthly dividend to $0.04 per share from $0.03, implying an annualized yield of about 11.1%; the dividend is payable July 31 to shareholders of record July 23.

MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) Director Todd Reit purchased 2,500 shares of the business's stock in a transaction that occurred on Tuesday, July 21st. The stock was acquired at an average price of $4.47 per share, for a total transaction of $11,175.00. Following the acquisition, the director directly owned 2,500 shares of the company's stock, valued at $11,175. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

MFS Multimarket Income Trust Trading Down 0.3%

MMT stock traded down $0.01 during midday trading on Tuesday, reaching $4.33. 150,038 shares of the company's stock traded hands, compared to its average volume of 150,497. MFS Multimarket Income Trust has a fifty-two week low of $4.31 and a fifty-two week high of $4.87. The business has a 50-day moving average price of $4.45 and a two-hundred day moving average price of $4.57.

MFS Multimarket Income Trust Increases Dividend

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

Institutional Trading of MFS Multimarket Income Trust

Large investors have recently added to or reduced their stakes in the stock. First Heartland Consultants Inc. acquired a new position in shares of MFS Multimarket Income Trust during the second quarter worth about $66,000. CoreCap Advisors LLC grew its stake in shares of MFS Multimarket Income Trust by 3,190.9% in the second quarter. CoreCap Advisors LLC now owns 51,338 shares of the closed-end fund's stock valued at $226,000 after buying an additional 49,778 shares in the last quarter. Rivernorth Capital Management LLC acquired a new stake in shares of MFS Multimarket Income Trust in the first quarter valued at about $1,558,000. Cetera Investment Advisers raised its holdings in shares of MFS Multimarket Income Trust by 75.7% during the 1st quarter. Cetera Investment Advisers now owns 178,117 shares of the closed-end fund's stock valued at $823,000 after buying an additional 76,756 shares during the period. Finally, Gerald Baker Financial Group LLC purchased a new stake in shares of MFS Multimarket Income Trust during the 1st quarter valued at about $57,000. 18.97% of the stock is currently owned by institutional investors and hedge funds.

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.

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