MFS Multimarket Income Trust (NYSE:MMT) Shares Cross Below 200 Day Moving Average - Should You Sell?

Key Points

• MMT shares fell below their 200-day moving average of $4.50, reaching $4.32 before closing at $4.3650. The 50-day moving average was $4.42, indicating recent trading weakness.
• The closed-end fund paid a monthly dividend of $0.04 per share, equivalent to an annualized yield of approximately 11.0%.
• Institutional ownership stands at 18.97%, with several investment firms increasing their positions during the second quarter, including NewEdge Advisors and Waverly Advisors.

MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.50 and traded as low as $4.32. MFS Multimarket Income Trust shares last traded at $4.3650, with a volume of 145,909 shares traded.

MFS Multimarket Income Trust Stock Performance

The business's 50-day simple moving average is $4.42 and its 200 day simple moving average is $4.50.

MFS Multimarket Income Trust Dividend Announcement

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

Hedge Funds Weigh In On MFS Multimarket Income Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new stake in MFS Multimarket Income Trust in the second quarter worth $59,000. NewEdge Advisors LLC boosted its position in 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 valued at $825,000 after buying an additional 135,487 shares during the period. Baird Financial Group Inc. bought a new position in shares of MFS Multimarket Income Trust during the second quarter valued at about $49,000. Allworth Financial LP grew its stake in shares of MFS Multimarket Income Trust by 8.3% during the second quarter. Allworth Financial LP now owns 40,596 shares of the closed-end fund's stock valued at $179,000 after buying an additional 3,096 shares during the last quarter. Finally, Waverly Advisors LLC increased its holdings in shares of MFS Multimarket Income Trust by 395.1% in the second quarter. Waverly Advisors LLC now owns 72,466 shares of the closed-end fund's stock worth $319,000 after buying an additional 57,829 shares during the period. 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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