Mfs Govt Mkts (NYSE:MGF) Sees Significant Drop in Short Interest

Key Points

• Short interest in MFS Government Markets (NYSE: MGF) plunged 79.7% to 9,516 shares as of October 15, representing just 0.1% of shares outstanding and 0.7 days to cover.
• Institutional investors and hedge funds increased their positions, with institutions collectively owning 54.77% of the stock; Citadel Advisors posted the largest percentage increase at 606.8%.
• MGF opened at $13.39, near its 52-week low, while declaring a $0.10 monthly dividend—equivalent to $1.20 annually and a 9.0% yield.

Mfs Govt Mkts (NYSE:MGF - Get Free Report) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 9,516 shares, a decrease of 79.7% from the September 30th total of 46,943 shares. Based on an average daily trading volume, of 13,190 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.1% of the company's stock are sold short.

Institutional Investors Weigh In On Mfs Govt Mkts

Several institutional investors and hedge funds have recently made changes to their positions in the company. 1607 Capital Partners LLC boosted its holdings in Mfs Govt Mkts by 5.0% in the second quarter. 1607 Capital Partners LLC now owns 2,392,698 shares of the company's stock worth $6,867,000 after purchasing an additional 113,961 shares during the period. Citadel Advisors LLC increased its stake in Mfs Govt Mkts by 606.8% during the second quarter. Citadel Advisors LLC now owns 75,970 shares of the company's stock valued at $218,000 after purchasing an additional 65,222 shares during the last quarter. Ameritas Advisory Services LLC increased its stake in Mfs Govt Mkts by 44.5% during the second quarter. Ameritas Advisory Services LLC now owns 139,560 shares of the company's stock valued at $401,000 after purchasing an additional 42,989 shares during the last quarter. Fortitude Advisory Group L.L.C. raised its holdings in shares of Mfs Govt Mkts by 7.4% during the second quarter. Fortitude Advisory Group L.L.C. now owns 90,114 shares of the company's stock worth $259,000 after purchasing an additional 6,185 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its holdings in shares of Mfs Govt Mkts by 12.6% during the second quarter. Dynamic Advisor Solutions LLC now owns 101,447 shares of the company's stock worth $291,000 after purchasing an additional 11,365 shares during the period. 54.77% of the stock is owned by institutional investors and hedge funds.

Mfs Govt Mkts Stock Down 1.4%

NYSE:MGF opened at $13.39 on Tuesday. The business's 50 day moving average is $13.82 and its two-hundred day moving average is $14.39. Mfs Govt Mkts has a 52 week low of $13.20 and a 52 week high of $15.65.

Mfs Govt Mkts Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be issued a $0.10 dividend. This is a positive change from Mfs Govt Mkts's previous monthly dividend of $0.10. The ex-dividend date is Friday, October 23rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.0%.

About Mfs Govt Mkts

MFS Government Markets Income Trust NYSE: MGF is a closed-end investment company that seeks to provide investors with a high level of current income, with capital appreciation considered a secondary objective. The fund invests primarily in government-related fixed-income securities.

Its portfolio may include obligations issued or guaranteed by the U.S. government, U.S. government agencies and instrumentalities, as well as mortgage-related securities and other income-producing debt instruments.

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