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

Key Points

• MFS Multimarket Income Trust (NYSE:MMT) experienced a significant increase in short interest, climbing to 25,400 shares, an increase of 2,016.7% from the previous month.
• The company raised its monthly dividend to $0.0333 per share, providing an annualized yield of 8.6%.
• Institutional investors now own 18.97% of the company's stock, with Geneos Wealth Management increasing its position by 780% in the first quarter.

MFS Multimarket Income Trust (NYSE:MMT - ) saw a large growth in short interest in July. As of July 15th, there was short interest totaling 25,400 shares, agrowthof2,016.7% from the June 30th total of 1,200 shares. Based on an average daily volume of 87,200 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 87,200 shares, the days-to-cover ratio is presently 0.3 days.

MFS Multimarket Income Trust Price Performance

Shares of NYSE:MMT traded up $0.02 during trading on Friday, hitting $4.66. 35,822 shares of the stock were exchanged, compared to its average volume of 91,915. MFS Multimarket Income Trust has a 1-year low of $4.31 and a 1-year high of $4.90. The company's fifty day simple moving average is $4.64 and its 200-day simple moving average is $4.62.

MFS Multimarket Income Trust Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were issued a dividend of $0.0333 per share. This represents a c) annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend was Tuesday, July 15th. This is a boost from MFS Multimarket Income Trust's previous monthly dividend of $0.03.

Institutional Trading of MFS Multimarket Income Trust

Several institutional investors have recently modified their holdings of MMT. Geneos Wealth Management Inc. lifted its position in shares of MFS Multimarket Income Trust by 780.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 10,155 shares of the closed-end fund's stock worth $47,000 after buying an additional 9,001 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in MFS Multimarket Income Trust in the 4th quarter valued at $49,000. Citadel Advisors LLC bought a new position in MFS Multimarket Income Trust in the 4th quarter valued at $68,000. Founders Financial Alliance LLC bought a new position in MFS Multimarket Income Trust in the 1st quarter valued at $70,000. Finally, Wolverine Asset Management LLC bought a new position in MFS Multimarket Income Trust in the 1st quarter valued at $74,000. Institutional investors and hedge funds own 18.97% of the company's stock.

About MFS Multimarket Income Trust

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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