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

Key Points

• MFS Multimarket Income Trust (NYSE:MMT) shares fell below their 200-day moving average on Thursday, trading as low as $4.40 and last changing hands at $4.4050.
• The fund recently paid a monthly dividend of $0.0328 per share, which annualizes to a dividend yield of 8.9%.
• Institutional ownership in the closed-end fund remains notable at 18.97%, with several firms recently increasing or initiating positions.

MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.59 and traded as low as $4.40. MFS Multimarket Income Trust shares last traded at $4.4050, with a volume of 231,519 shares traded.

MFS Multimarket Income Trust Price Performance

The company has a 50 day moving average of $4.48 and a 200 day moving average of $4.59.

MFS Multimarket Income Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a dividend of $0.0328 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a c) dividend on an annualized basis and a dividend yield of 8.9%.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Large investors have recently made changes to their positions in the company. Focus Partners Wealth lifted its holdings in 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 purchasing an additional 3,550 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in MFS Multimarket Income Trust by 780.0% during the first quarter. Geneos Wealth Management Inc. now owns 10,155 shares of the closed-end fund's stock worth $47,000 after buying an additional 9,001 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of MFS Multimarket Income Trust during the second quarter worth approximately $97,000. Invesco Ltd. increased its holdings in shares of MFS Multimarket Income Trust by 1.6% during the second 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 in the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of MFS Multimarket Income Trust by 6.6% in the second quarter. Raymond James Financial Inc. now owns 913,667 shares of the closed-end fund's stock valued at $4,294,000 after acquiring an additional 56,346 shares during the last quarter. Institutional investors own 18.97% of the company's stock.

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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