MFS Multimarket Income Trust (NYSE:MMT) Stock Price Passes 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 Friday . The stock has a 200-day moving average of $4.74 and traded as low as $4.60. MFS Multimarket Income Trust shares last traded at $4.62, with a volume of 93,483 shares traded.

MFS Multimarket Income Trust Stock Down 0.4 %

The firm’s fifty day simple moving average is $4.68 and its two-hundred day simple moving average is $4.74.

MFS Multimarket Income Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 14th will be issued a $0.0338 dividend. This represents a $0.41 dividend on an annualized basis and a yield of 8.79%. The ex-dividend date is Tuesday, January 14th.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMT. Ashton Thomas Securities LLC acquired a new position in shares of MFS Multimarket Income Trust in the 3rd quarter valued at $85,000. Kovitz Investment Group Partners LLC acquired a new position in MFS Multimarket Income Trust in the third quarter valued at about $103,000. Commonwealth Equity Services LLC boosted its stake in MFS Multimarket Income Trust by 23.8% during the second quarter. Commonwealth Equity Services LLC now owns 168,469 shares of the closed-end fund’s stock worth $788,000 after buying an additional 32,358 shares during the period. Shaker Financial Services LLC increased its position in shares of MFS Multimarket Income Trust by 13.1% during the third quarter. Shaker Financial Services LLC now owns 286,096 shares of the closed-end fund’s stock valued at $1,393,000 after acquiring an additional 33,239 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of MFS Multimarket Income Trust in the 3rd quarter valued at approximately $320,000. Institutional investors and hedge funds own 18.97% of the company’s stock.

MFS Multimarket Income Trust Company Profile

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.