MFS Multimarket Income Trust (NYSE:MMT) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Shares of MFS Multimarket Income Trust (NYSE:MMT) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.74 and traded as low as $4.61. MFS Multimarket Income Trust shares last traded at $4.63, with a volume of 50,247 shares traded.

MFS Multimarket Income Trust Price Performance

The company has a 50-day simple moving average of $4.66 and a two-hundred day simple moving average of $4.74.

MFS Multimarket Income Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 14th will be given a dividend of $0.0338 per share. The ex-dividend date is Tuesday, January 14th. This represents a $0.41 dividend on an annualized basis and a dividend yield of 8.78%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in MFS Multimarket Income Trust in the 3rd quarter worth about $85,000. Kovitz Investment Group Partners LLC bought a new position in MFS Multimarket Income Trust in the 3rd quarter worth about $103,000. Atomi Financial Group Inc. increased its stake in MFS Multimarket Income Trust by 6.8% in the 4th quarter. Atomi Financial Group Inc. now owns 59,447 shares of the closed-end fund’s stock worth $279,000 after acquiring an additional 3,759 shares during the last quarter. Wolverine Asset Management LLC bought a new position in MFS Multimarket Income Trust in the 3rd quarter worth about $320,000. Finally, Shaker Financial Services LLC increased its stake in MFS Multimarket Income Trust by 13.1% in the 3rd quarter. Shaker Financial Services LLC now owns 286,096 shares of the closed-end fund’s stock worth $1,393,000 after acquiring an additional 33,239 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 is a closed ended fixed income mutual fund launched and managed by MFS Investment Management, Inc The fund invests in the fixed income markets across the globe with greater emphasis on United States. It seeks to invest in fixed income securities issued by U.S. Government, foreign government, mortgage backed, and other asset-backed securities of U.S.