MFS Multimarket Income Trust (NYSE:MMT) Shares Cross Below 200-Day Moving Average – Here’s Why

Shares of MFS Multimarket Income Trust (NYSE:MMT) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.59 and traded as low as $4.40. MFS Multimarket Income Trust shares last traded at $4.4050, with a volume of 231,519 shares trading hands.

MFS Multimarket Income Trust Stock Up 0.1%

The stock has a 50 day moving average price of $4.48 and a two-hundred day moving average price of $4.59.

MFS Multimarket Income Trust Cuts Dividend

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

Institutional Investors Weigh In On MFS Multimarket Income Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Focus Partners Wealth lifted its stake in shares of MFS Multimarket Income Trust by 14.1% during the first quarter. Focus Partners Wealth now owns 28,645 shares of the closed-end fund’s stock valued at $133,000 after acquiring an additional 3,550 shares during the period. Geneos Wealth Management Inc. increased its position in MFS Multimarket Income Trust by 780.0% in the first quarter. Geneos Wealth Management Inc. now owns 10,155 shares of the closed-end fund’s stock worth $47,000 after purchasing an additional 9,001 shares during the period. Franklin Resources Inc. bought a new stake in MFS Multimarket Income Trust during the 2nd quarter worth about $97,000. Invesco Ltd. lifted its position in MFS Multimarket Income Trust by 1.6% during 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. lifted its position in MFS Multimarket Income Trust by 6.6% during 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. Institutional investors own 18.97% of the company’s stock.

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.