MFS Multimarket Income Trust (NYSE:MMT) Sees Significant Growth 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 - Get Free Report) was the target of a significant growth in short interest during the month of 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 trading volume of 87,200 shares, the short-interest ratio is presently 0.3 days. Based on an average trading volume of 87,200 shares, the short-interest ratio is presently 0.3 days.

MFS Multimarket Income Trust Stock Down 0.1%

NYSE:MMT traded down $0.01 during mid-day trading on Tuesday, reaching $4.68. The company's stock had a trading volume of 12,432 shares, compared to its average volume of 91,854. MFS Multimarket Income Trust has a 1 year low of $4.31 and a 1 year high of $4.90. The stock has a fifty day moving average of $4.64 and a 200-day moving average of $4.62.

MFS Multimarket Income Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th will be given a dividend of $0.0335 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This is a positive change from MFS Multimarket Income Trust's previous monthly dividend of $0.03. This represents a c) annualized dividend and a dividend yield of 8.6%.

Institutional Trading of MFS Multimarket Income Trust

Hedge funds have recently modified their holdings of the company. Invesco Ltd. increased its holdings in shares of MFS Multimarket Income Trust by 2.6% during the fourth quarter. Invesco Ltd. now owns 692,046 shares of the closed-end fund's stock valued at $3,246,000 after acquiring an additional 17,284 shares in the last quarter. Raymond James Financial Inc. acquired a new position in MFS Multimarket Income Trust in the 4th quarter worth approximately $3,922,000. 1607 Capital Partners LLC increased its holdings in MFS Multimarket Income Trust by 84.7% in the 4th quarter. 1607 Capital Partners LLC now owns 366,188 shares of the closed-end fund's stock worth $1,717,000 after buying an additional 167,961 shares during the period. MGO One Seven LLC increased its holdings in MFS Multimarket Income Trust by 74.8% in the 4th quarter. MGO One Seven LLC now owns 51,305 shares of the closed-end fund's stock worth $241,000 after buying an additional 21,953 shares during the period. Finally, Two Sigma Securities LLC acquired a new position in MFS Multimarket Income Trust in the 4th quarter worth approximately $103,000. 18.97% of the stock is owned by hedge funds and other institutional investors.

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.