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

Key Points

• Short interest in MFS Multimarket Income Trust (NYSE:MMT) plunged 81.2% in June, falling to 43,791 shares from 233,487 shares two weeks earlier. That leaves only about 0.1% of shares sold short and a very low days-to-cover ratio of 0.1.
• Institutional investors have been active in the stock, with several firms increasing or initiating positions, including Sit Investment Associates, CoreCap Advisors, and Allspring Global Investments. In total, institutional and hedge fund ownership stands at 18.97% of shares.
• The closed-end fund’s shares were essentially flat at $4.41 in Friday trading, near the lower end of its 52-week range of $4.37 to $4.87. The fund also paid a monthly dividend of $0.0328, implying an annualized yield of 8.9%.

MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 43,791 shares, a drop of 81.2% from the June 15th total of 233,487 shares. Based on an average daily volume of 330,497 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the company's shares are sold short.

Institutional Trading of MFS Multimarket Income Trust

Large investors have recently bought and sold shares of the business. Sit Investment Associates Inc. increased its holdings in MFS Multimarket Income Trust by 127.2% in the fourth quarter. Sit Investment Associates Inc. now owns 642,159 shares of the closed-end fund's stock worth $2,986,000 after purchasing an additional 359,502 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in shares of MFS Multimarket Income Trust by 3,190.9% during the 2nd quarter. CoreCap Advisors LLC now owns 51,338 shares of the closed-end fund's stock worth $226,000 after buying an additional 49,778 shares in the last quarter. Rivernorth Capital Management LLC bought a new position in shares of MFS Multimarket Income Trust during the 1st quarter worth approximately $1,558,000. Gerald Baker Financial Group LLC acquired a new stake in shares of MFS Multimarket Income Trust during the 1st quarter worth approximately $57,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of MFS Multimarket Income Trust by 3.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,450,887 shares of the closed-end fund's stock worth $15,943,000 after buying an additional 106,882 shares during the period. 18.97% of the stock is currently owned by institutional investors and hedge funds.

MFS Multimarket Income Trust Trading Down 0.1%

Shares of NYSE:MMT traded down $0.01 during trading on Friday, reaching $4.41. The stock had a trading volume of 177,683 shares, compared to its average volume of 286,638. MFS Multimarket Income Trust has a 52 week low of $4.37 and a 52 week high of $4.87. The firm's fifty day moving average is $4.48 and its 200 day moving average is $4.59.

MFS Multimarket Income Trust Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.0328 dividend. The ex-dividend date was Monday, June 8th. This represents a c) annualized dividend and a yield of 8.9%.

MFS Multimarket Income Trust Company Profile

MFS Multimarket Income Trust NYSE: MMT is a closed-end management investment company that seeks to provide high current income through investments in a diversified global portfolio of income-producing securities. Launched in 1987, the trust is managed by MFS Investment Management, a Boston-based asset manager with roots dating back to 1924. MFS Investment Management acts as the investment adviser and leverages its multi-asset research capabilities to build and monitor MMT’s portfolio on behalf of shareholders.

The trust’s principal investment activities encompass a broad range of fixed-income and equity-related instruments.

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