MFS Multimarket Income Trust (NYSE:MMT) Stock Short Interest Jumps 67.4%

Key Points

• Short interest surged 67.4% to 528,406 shares as of September 30, representing approximately 1.0% of MMT’s shares outstanding and 1.5 days to cover.
• Hedge funds and institutional investors own 18.97% of the trust, with several firms significantly increasing their positions or initiating new stakes.
• MMT traded at $4.25, near its 52-week low, while announcing a $0.04 monthly dividend—an annualized $0.48 payout and an 11.3% yield.

MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) saw a significant increase in short interest in September. As of September 30th, there was short interest totaling 528,406 shares, an increase of 67.4% from the September 15th total of 315,593 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily volume of 353,507 shares, the days-to-cover ratio is currently 1.5 days.

Hedge Funds Weigh In On MFS Multimarket Income Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rivernorth Capital Management LLC purchased a new position in shares of MFS Multimarket Income Trust in the first quarter worth about $1,558,000. NewEdge Advisors LLC lifted its holdings in shares of MFS Multimarket Income Trust by 260.5% during the second quarter. NewEdge Advisors LLC now owns 187,488 shares of the closed-end fund's stock worth $825,000 after purchasing an additional 135,487 shares during the period. Sit Investment Associates Inc. lifted its holdings in shares of MFS Multimarket Income Trust by 127.2% during the fourth quarter. Sit Investment Associates Inc. now owns 642,159 shares of the closed-end fund's stock worth $2,986,000 after purchasing an additional 359,502 shares during the period. First Heartland Consultants Inc. acquired a new stake in shares of MFS Multimarket Income Trust during the second quarter worth about $66,000. Finally, Wedbush Securities Inc. boosted its position in MFS Multimarket Income Trust by 117.7% in the second quarter. Wedbush Securities Inc. now owns 25,190 shares of the closed-end fund's stock valued at $111,000 after buying an additional 13,617 shares during the last quarter. 18.97% of the stock is owned by hedge funds and other institutional investors.

MFS Multimarket Income Trust Stock Performance

MMT opened at $4.25 on Friday. The business has a fifty day moving average of $4.37 and a 200 day moving average of $4.44. MFS Multimarket Income Trust has a 52-week low of $4.15 and a 52-week high of $4.80.

MFS Multimarket Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be paid a $0.04 dividend. This represents a $0.48 annualized dividend and a yield of 11.3%. The ex-dividend date is Friday, October 23rd.

About MFS Multimarket Income Trust

MFS Multimarket Income Trust NYSE: MMT is a closed-end investment company managed by MFS Investment Management. The fund seeks to provide current income and, as a secondary objective, capital appreciation by investing in a diversified portfolio of fixed-income securities and other income-producing investments.

The trust may invest across multiple sectors, credit qualities and geographic regions, including U.S. and foreign government obligations, corporate bonds, mortgage- and asset-backed securities, emerging-market debt and high-yield securities.

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