Mfs Govt Mkts (NYSE:MGF) Sees Significant Growth in Short Interest

Key Points

• Mfs Govt Mkts experienced a significant increase in short interest, rising by 43.0% in September, with a total of 16,300 shares shorted as of September 30th.
• The company recently announced a monthly dividend increase to $0.0193, with a dividend yield of 7.6%, payable on October 31st.
• Institutional investors own 54.77% of Mfs Govt Mkts, suggesting healthy interest from large investment firms in the company's stock.

Mfs Govt Mkts (NYSE:MGF - ) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 16,300 shares, an increase of 43.0% from the September 15th total of 11,400 shares. Based on an average trading volume of 70,200 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 70,200 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Gilman Hill Asset Management LLC increased its stake in shares of Mfs Govt Mkts by 50.0% in the second quarter. Gilman Hill Asset Management LLC now owns 15,000 shares of the company's stock valued at $47,000 after buying an additional 5,000 shares during the period. Benjamin Edwards Inc. acquired a new position in shares of Mfs Govt Mkts in the third quarter valued at approximately $78,000. Sheets Smith Investment Management acquired a new position in shares of Mfs Govt Mkts in the third quarter valued at approximately $90,000. Csenge Advisory Group increased its position in Mfs Govt Mkts by 19.0% during the 1st quarter. Csenge Advisory Group now owns 30,346 shares of the company's stock valued at $93,000 after purchasing an additional 4,838 shares during the period. Finally, PVG Asset Management Corp acquired a new stake in Mfs Govt Mkts during the 2nd quarter valued at approximately $94,000. Institutional investors and hedge funds own 54.77% of the company's stock.

Mfs Govt Mkts Stock Down 0.5%

NYSE MGF traded down $0.02 during trading on Thursday, hitting $3.07. 9,866 shares of the company's stock were exchanged, compared to its average volume of 58,675. The stock's 50 day moving average price is $3.09 and its two-hundred day moving average price is $3.08. Mfs Govt Mkts has a fifty-two week low of $2.95 and a fifty-two week high of $3.24.

Mfs Govt Mkts Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 14th will be paid a $0.0193 dividend. This is an increase from Mfs Govt Mkts's previous monthly dividend of $0.02. This represents a c) annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Tuesday, October 14th.

About Mfs Govt Mkts

MFS Government Markets Income Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in the fixed income markets of United States. It primarily invests in investment grade debt instruments. The fund also invests in mortgage backed, U.S.

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