MFS Multimarket Income Trust (NYSE:MMT) Sees Large Growth 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 - ) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 89,700 shares, a growth of 218.1% from the August 15th total of 28,200 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 87,200 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 87,200 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On MFS Multimarket Income Trust

Several large investors have recently modified their holdings of MMT. 1607 Capital Partners LLC increased its position in MFS Multimarket Income Trust by 66.4% during the first quarter. 1607 Capital Partners LLC now owns 609,455 shares of the closed-end fund's stock worth $2,834,000 after acquiring an additional 243,267 shares during the period. Invesco Ltd. increased its position 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 worth $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 worth about $265,000. Raymond James Financial Inc. increased its position 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 worth $4,294,000 after acquiring an additional 56,346 shares during the period. Finally, Readystate Asset Management LP increased its position in MFS Multimarket Income Trust by 165.7% during the first 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 period. 18.97% of the stock is owned by institutional investors.

MFS Multimarket Income Trust Price Performance

Shares of MMT traded up $0.04 during trading hours on Friday, hitting $4.85. The company had a trading volume of 56,241 shares, compared to its average volume of 90,055. The business has a fifty day moving average of $4.70 and a 200-day moving average of $4.63. MFS Multimarket Income Trust has a 12 month low of $4.31 and a 12 month high of $4.90.

MFS Multimarket Income Trust Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 16th. This is a boost from MFS Multimarket Income Trust's previous monthly dividend of $0.03. This represents a c) annualized dividend and a dividend yield of 8.4%.

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.

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