MFS Multimarket Income Trust (NYSE:MMT) Share Price Passes Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Shares crossed below its 200-day moving average, with MMT’s 200‑day MA at $4.66 and the stock trading as low as $4.52 (last $4.5250) on volume of 173,337.
• Monthly dividend increased to $0.033 (from $0.03), implying an annualized yield of about 8.7%; the ex-dividend date is May 19 and the payment date is May 29.
• Notable institutional activity: several funds added to positions (Allspring owns ~3.45M shares) and roughly 18.97% of the stock is held by hedge funds and other institutional investors.

Shares of MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.66 and traded as low as $4.52. MFS Multimarket Income Trust shares last traded at $4.5250, with a volume of 173,337 shares changing hands.

MFS Multimarket Income Trust Stock Performance

The business's 50 day simple moving average is $4.59 and its 200 day simple moving average is $4.66.

MFS Multimarket Income Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.033 per share. This is a boost from MFS Multimarket Income Trust's previous monthly dividend of $0.03. This represents a c) dividend on an annualized basis and a yield of 8.7%. The ex-dividend date of this dividend is Tuesday, May 19th.

Institutional Trading of MFS Multimarket Income Trust

A number of hedge funds have recently bought and sold shares of the company. Gerald Baker Financial Group LLC purchased a new stake in MFS Multimarket Income Trust during the first quarter valued at about $57,000. Allspring Global Investments Holdings LLC increased its holdings in shares of MFS Multimarket Income Trust by 3.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,450,887 shares of the closed-end fund's stock valued at $15,943,000 after purchasing an additional 106,882 shares during the period. Decision Investments Inc. increased its holdings in shares of MFS Multimarket Income Trust by 9.8% in the 1st quarter. Decision Investments Inc. now owns 32,500 shares of the closed-end fund's stock valued at $150,000 after purchasing an additional 2,900 shares during the period. Sit Investment Associates Inc. increased its holdings in shares of MFS Multimarket Income Trust by 127.2% in the 4th quarter. Sit Investment Associates Inc. now owns 642,159 shares of the closed-end fund's stock valued at $2,986,000 after purchasing an additional 359,502 shares during the period. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of MFS Multimarket Income Trust in the 4th quarter valued at about $73,000. 18.97% of the stock is owned by hedge funds and other institutional investors.

About MFS Multimarket Income Trust

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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