MFS Multimarket Income Trust (NYSE:MMT) Short Interest Update

Key Points

• Short interest fell sharply: MMT’s short interest dropped 52.2% to 27,945 shares as of July 31, representing 0.1% of shares outstanding and a 0.1-day days-to-cover ratio.
• Shares remained near recent lows: MMT closed at $4.45, compared with a 52-week range of $4.31 to $4.87, while trading below its 200-day moving average of $4.53.
• Income remains a key attraction: The trust declared a $0.04 monthly dividend payable August 31, implying a 10.8% annualized yield; institutional investors own 18.97% of the fund.

MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 27,945 shares, a drop of 52.2% from the July 15th total of 58,408 shares. Based on an average trading volume of 378,022 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

MFS Multimarket Income Trust Stock Performance

NYSE MMT traded down $0.03 on Friday, hitting $4.45. The stock had a trading volume of 111,893 shares, compared to its average volume of 340,391. The firm has a 50-day moving average of $4.42 and a 200-day moving average of $4.53. MFS Multimarket Income Trust has a 52-week low of $4.31 and a 52-week high of $4.87.

MFS Multimarket Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a $0.04 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date is Monday, August 24th.

Hedge Funds Weigh In On MFS Multimarket Income Trust

A number of institutional investors have recently added to or reduced their stakes in MMT. Focus Partners Wealth boosted its position in shares of MFS Multimarket Income Trust by 14.1% during the 1st quarter. Focus Partners Wealth now owns 28,645 shares of the closed-end fund's stock valued at $133,000 after acquiring an additional 3,550 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in MFS Multimarket Income Trust by 780.0% in the first quarter. Geneos Wealth Management Inc. now owns 10,155 shares of the closed-end fund's stock valued at $47,000 after purchasing an additional 9,001 shares in the last quarter. Franklin Resources Inc. purchased a new position in MFS Multimarket Income Trust in the 2nd quarter worth approximately $97,000. Invesco Ltd. increased its holdings in shares of MFS Multimarket Income Trust by 1.6% in the 2nd quarter. Invesco Ltd. now owns 763,018 shares of the closed-end fund's stock worth $3,586,000 after buying an additional 11,782 shares during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of MFS Multimarket Income Trust by 6.6% in the 2nd quarter. Raymond James Financial Inc. now owns 913,667 shares of the closed-end fund's stock worth $4,294,000 after buying an additional 56,346 shares during the last quarter. 18.97% of the stock is currently owned by institutional investors.

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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