MFS Multimarket Income Trust (NYSE:MMT) Sees Large Increase in Short Interest

Key Points

• Short interest surged 139.9% from August 15 to August 31, reaching 269,919 shares. Short interest represents 0.5% of outstanding shares, with a days-to-cover ratio of 0.9.
• Institutional ownership stands at 18.97%, with several firms recently initiating positions or increasing their holdings in MFS Multimarket Income Trust.
• MMT shares fell 0.3% to $4.37, near the lower end of their 12-month range, while the trust continued its monthly $0.04-per-share dividend, implying an annualized yield of about 11.0%.

MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 269,919 shares, a growth of 139.9% from the August 15th total of 112,503 shares. Based on an average trading volume of 289,915 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.5% of the company's shares are short sold.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. increased its holdings in shares of 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 valued at $47,000 after acquiring an additional 9,001 shares in the last quarter. Baird Financial Group Inc. purchased a new position in MFS Multimarket Income Trust in the second quarter worth $49,000. Gerald Baker Financial Group LLC bought a new position in MFS Multimarket Income Trust during the first quarter valued at about $57,000. Integrated Wealth Concepts LLC bought a new position in shares of MFS Multimarket Income Trust during the 2nd quarter valued at approximately $59,000. Finally, First Heartland Consultants Inc. purchased a new stake in MFS Multimarket Income Trust in the second quarter worth $66,000. 18.97% of the stock is owned by institutional investors.

MFS Multimarket Income Trust Trading Down 0.3%

Shares of NYSE MMT traded down $0.01 during trading on Friday, reaching $4.37. The company had a trading volume of 145,909 shares, compared to its average volume of 241,978. MFS Multimarket Income Trust has a 12 month low of $4.31 and a 12 month high of $4.87. The company's fifty day moving average price is $4.42 and its 200-day moving average price is $4.50.

MFS Multimarket Income Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 11.0%.

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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