Short Interest in MFS Multimarket Income Trust (NYSE:MMT) Decreases By 32.1%

Key Points

• Short interest fell 32.1% — short interest declined to 222,476 shares as of April 15 (from 327,704 on March 31), about 0.4% of shares and a short-interest ratio of 2.4 days based on average volume.
• Dividend disclosed — the trust declared a monthly dividend of $0.0329 per share (ex-dividend April 14, payable April 30), implying an annualized yield of roughly 8.7%.
• Shares trading near 52-week low — the stock traded at $4.54, close to its 52-week low of $4.37 and below the 50-day and 200-day moving averages of $4.60 and $4.66.

MFS Multimarket Income Trust (NYSE:MMT - Get Free Report) saw a large decrease in short interest in April. As of April 15th, there was short interest totaling 222,476 shares, a decrease of 32.1% from the March 31st total of 327,704 shares. Based on an average trading volume of 92,270 shares, the short-interest ratio is presently 2.4 days. Approximately 0.4% of the shares of the stock are short sold.

MFS Multimarket Income Trust Stock Up 0.1%

NYSE MMT traded up $0.01 during trading hours on Tuesday, hitting $4.54. 91,577 shares of the company's stock traded hands, compared to its average volume of 97,423. MFS Multimarket Income Trust has a 52-week low of $4.37 and a 52-week high of $4.87. The firm's 50-day moving average is $4.60 and its 200-day moving average is $4.66.

MFS Multimarket Income Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, April 14th will be paid a dividend of $0.0329 per share. This represents a c) annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Tuesday, April 14th.

Hedge Funds Weigh In On MFS Multimarket Income Trust

Several institutional investors and hedge funds have recently bought and sold shares of MMT. Focus Partners Wealth boosted its holdings in MFS Multimarket Income Trust by 14.1% in the 1st quarter. Focus Partners Wealth now owns 28,645 shares of the closed-end fund's stock valued at $133,000 after purchasing an additional 3,550 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in MFS Multimarket Income Trust by 780.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 10,155 shares of the closed-end fund's stock valued at $47,000 after purchasing an additional 9,001 shares during the last quarter. Franklin Resources Inc. acquired a new position in MFS Multimarket Income Trust in the 2nd quarter valued at about $97,000. Invesco Ltd. boosted its holdings in MFS Multimarket Income Trust by 1.6% in the 2nd quarter. Invesco Ltd. now owns 763,018 shares of the closed-end fund's stock valued at $3,586,000 after purchasing an additional 11,782 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in MFS Multimarket Income Trust by 6.6% in the 2nd quarter. Raymond James Financial Inc. now owns 913,667 shares of the closed-end fund's stock valued at $4,294,000 after purchasing an additional 56,346 shares during the last quarter. 18.97% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.