MFS Multimarket Income Trust (NYSE:MMT) Stock Price Passes Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• MFS Multimarket Income Trust shares fell below their 200-day moving average, trading as low as $4.44 versus the $4.51 average, while the 50-day average stood at $4.42.
• The trust announced a monthly dividend of $0.04 per share, representing an annualized yield of approximately 10.8%.
• Institutional investors have shown increased interest, with several funds expanding their positions; hedge funds and other institutions collectively own about 18.97% of the stock.

MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.51 and traded as low as $4.44. MFS Multimarket Income Trust shares last traded at $4.44, with a volume of 128,451 shares changing hands.

MFS Multimarket Income Trust Price Performance

The stock has a 50-day moving average of $4.42 and a two-hundred day moving average of $4.51.

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 10.8%.

Hedge Funds Weigh In On MFS Multimarket Income Trust

A number of large investors have recently added to or reduced their stakes in the business. Rivernorth Capital Management LLC bought a new position in shares of MFS Multimarket Income Trust during the first quarter valued at about $1,558,000. Sit Investment Associates Inc. lifted its stake in shares of MFS Multimarket Income Trust by 127.2% in the 4th quarter. Sit Investment Associates Inc. now owns 642,159 shares of the closed-end fund's stock valued at $2,986,000 after acquiring an additional 359,502 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in MFS Multimarket Income Trust by 117.7% during the 2nd quarter. Wedbush Securities Inc. now owns 25,190 shares of the closed-end fund's stock valued at $111,000 after acquiring an additional 13,617 shares during the period. First Heartland Consultants Inc. purchased a new stake in MFS Multimarket Income Trust during the 2nd quarter valued at about $66,000. Finally, CoreCap Advisors LLC grew its position in MFS Multimarket Income Trust by 3,190.9% during the 2nd quarter. CoreCap Advisors LLC now owns 51,338 shares of the closed-end fund's stock worth $226,000 after acquiring an additional 49,778 shares during the last quarter. Hedge funds and other 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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