Raymond James Financial Inc. Makes New Investment in MFS Government Markets Income Trust (NYSE:MGF)

Raymond James Financial Inc. purchased a new position in MFS Government Markets Income Trust (NYSE:MGF - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 268,853 shares of the company's stock, valued at approximately $825,000. Raymond James Financial Inc. owned about 0.82% of MFS Government Markets Income Trust at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Gilman Hill Asset Management LLC bought a new stake in MFS Government Markets Income Trust in the fourth quarter worth $31,000. Dynamic Advisor Solutions LLC lifted its stake in shares of MFS Government Markets Income Trust by 106.5% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 47,241 shares of the company's stock valued at $145,000 after buying an additional 24,364 shares during the period. Transform Wealth LLC bought a new stake in shares of MFS Government Markets Income Trust in the fourth quarter valued at about $163,000. Ameritas Advisory Services LLC lifted its stake in shares of MFS Government Markets Income Trust by 4.4% in the fourth quarter. Ameritas Advisory Services LLC now owns 144,890 shares of the company's stock valued at $445,000 after buying an additional 6,140 shares during the period. Finally, Consolidated Portfolio Review Corp lifted its stake in shares of MFS Government Markets Income Trust by 5.5% in the fourth quarter. Consolidated Portfolio Review Corp now owns 346,548 shares of the company's stock valued at $1,064,000 after buying an additional 18,179 shares during the period. 54.77% of the stock is owned by institutional investors and hedge funds.

MFS Government Markets Income Trust Stock Performance

Shares of MGF traded down $0.02 on Monday, reaching $3.09. 3,937 shares of the stock traded hands, compared to its average volume of 71,672. MFS Government Markets Income Trust has a 12 month low of $2.95 and a 12 month high of $3.39. The stock's 50-day moving average price is $3.11 and its 200-day moving average price is $3.11.

MFS Government Markets Income Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be given a $0.0193 dividend. This represents a $0.23 annualized dividend and a yield of 7.51%. The ex-dividend date of this dividend is Tuesday, May 13th.

MFS Government Markets Income Trust Profile

MFS Government Markets Income Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in the fixed income markets of United States. It primarily invests in investment grade debt instruments. The fund also invests in mortgage backed, U.S.