MFS Multimarket Income Trust (NYSE:MMT) Stock Price Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• Shares crossed below their 200-day moving average of $4.67, trading as low as $4.58 and last at $4.64 on Monday.
• The trust disclosed a monthly dividend of $0.0329 (ex-dividend Apr 14, payable Apr 30), implying roughly an 8.5% yield.
• Several institutions recently added or increased stakes in the fund, with institutional ownership now about 18.97%.

Shares of MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.67 and traded as low as $4.58. MFS Multimarket Income Trust shares last traded at $4.64, with a volume of 72,485 shares changing hands.

MFS Multimarket Income Trust Stock Up 1.1%

The firm's 50 day moving average is $4.62 and its 200-day moving average is $4.67.

MFS Multimarket Income Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, April 14th will be paid a $0.0329 dividend. This represents a c) annualized dividend and a dividend yield of 8.5%. The ex-dividend date of this dividend is Tuesday, April 14th.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Several institutional investors and hedge funds have recently modified their holdings of MMT. Geneos Wealth Management Inc. lifted its stake in shares of MFS Multimarket Income Trust by 780.0% in the 1st 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 during the last quarter. Impact Capital Partners LLC bought a new position in MFS Multimarket Income Trust in the 3rd quarter worth $48,000. Park Avenue Securities LLC bought a new position in MFS Multimarket Income Trust in the 3rd quarter worth $49,000. Melfa Wealth Management Inc. bought a new position in MFS Multimarket Income Trust in the 4th quarter worth $72,000. Finally, Beacon Pointe Advisors LLC bought a new position in MFS Multimarket Income Trust in the 4th quarter worth $73,000. Institutional investors and hedge funds own 18.97% of the company's stock.

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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