MFS Multimarket Income Trust (NYSE:MMT) Sees Significant Increase in Short Interest

Key Points

• MFS Multimarket Income Trust experienced a dramatic increase in short interest, rising by 218.1% in August, reaching 89,700 shares.
• The trust has also announced an increase in its monthly dividend to $0.0337, which reflects an annualized yield of 8.4%.
• Investment firms are showing increased interest, with institutions owning 18.97% of the stock, and notable increases in holdings from firms like 1607 Capital Partners LLC and Invesco Ltd.

MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 89,700 shares, an increase of 218.1% from the August 15th total of 28,200 shares. Currently, 0.2% of the company's shares are short sold. Based on an average daily volume of 87,200 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily volume of 87,200 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.2% of the company's shares are short sold.

Institutional Trading of MFS Multimarket Income Trust

Several hedge funds have recently added to or reduced their stakes in the business. 1607 Capital Partners LLC lifted its position in shares of MFS Multimarket Income Trust by 66.4% in the first quarter. 1607 Capital Partners LLC now owns 609,455 shares of the closed-end fund's stock worth $2,834,000 after buying an additional 243,267 shares during the last quarter. Invesco Ltd. increased its stake in MFS Multimarket Income Trust by 8.6% during the first quarter. Invesco Ltd. now owns 751,236 shares of the closed-end fund's stock valued at $3,493,000 after acquiring an additional 59,190 shares during the period. Northstar Financial Companies Inc. bought a new position in MFS Multimarket Income Trust during the fourth quarter valued at about $265,000. Raymond James Financial Inc. grew its stake in shares of MFS Multimarket Income Trust by 6.6% in the 2nd 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 period. Finally, Readystate Asset Management LP grew its position in MFS Multimarket Income Trust by 165.7% during the 1st quarter. Readystate Asset Management LP now owns 77,598 shares of the closed-end fund's stock worth $361,000 after acquiring an additional 48,392 shares during the last quarter. Institutional investors own 18.97% of the company's stock.

MFS Multimarket Income Trust Stock Performance

Shares of NYSE:MMT traded down $0.03 during mid-day trading on Wednesday, hitting $4.79. 40,342 shares of the company traded hands, compared to its average volume of 69,531. MFS Multimarket Income Trust has a 52-week low of $4.31 and a 52-week high of $4.90. The firm's 50 day simple moving average is $4.71 and its 200 day simple moving average is $4.64.

MFS Multimarket Income Trust Increases Dividend

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

MFS Multimarket Income Trust Company 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.