MFS Multimarket Income Trust (NYSE:MMT) Stock Crosses Below 200 Day Moving Average – Should You Sell?

MFS Multimarket Income Trust (NYSE:MMT)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.60 and traded as low as $4.42. MFS Multimarket Income Trust shares last traded at $4.4250, with a volume of 305,470 shares.

MFS Multimarket Income Trust Stock Performance

The firm has a 50-day moving average of $4.50 and a two-hundred day moving average of $4.60.

MFS Multimarket Income Trust Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.0328 dividend. This represents a c) annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend was Monday, June 8th.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Hedge funds have recently modified their holdings of the business. Focus Partners Wealth grew its stake in shares of MFS Multimarket Income Trust by 14.1% in the first quarter. Focus Partners Wealth now owns 28,645 shares of the closed-end fund’s stock worth $133,000 after acquiring an additional 3,550 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in MFS Multimarket Income Trust by 780.0% during 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 during the 2nd quarter valued at $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 period. 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 period. 18.97% of the stock is owned by institutional investors.

MFS Multimarket Income Trust Company Profile

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.