MFS Multimarket Income Trust (NYSE:MMT) Shares Cross Above Fifty Day Moving Average – What’s Next?

MFS Multimarket Income Trust (NYSE:MMT) shares passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $4.29 and traded as high as $4.31. MFS Multimarket Income Trust shares last traded at $4.3050, with a volume of 179,779 shares trading hands.

MFS Multimarket Income Trust Stock Performance

The company has a 50 day moving average of $4.29 and a 200 day moving average of $4.47.

Shares of MFS Multimarket Income Trust are scheduled to reverse split on the morning of Monday, November 9th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, November 8th.

MFS Multimarket Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 23rd were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 11.1%.

Hedge Funds Weigh In On MFS Multimarket Income Trust

Several institutional investors have recently modified their holdings of MMT. Baird Financial Group Inc. bought a new position in MFS Multimarket Income Trust in the second quarter valued at approximately $49,000. Gerald Baker Financial Group LLC bought a new stake in MFS Multimarket Income Trust in the 1st quarter valued at $57,000. First Nebraska Trust Co bought a new stake in MFS Multimarket Income Trust in the 3rd quarter valued at $52,000. Integrated Wealth Concepts LLC acquired a new position in MFS Multimarket Income Trust in the 2nd quarter worth $59,000. Finally, First Heartland Consultants Inc. acquired a new position in MFS Multimarket Income Trust in the 2nd quarter worth $66,000. Institutional investors own 18.97% of the company’s stock.

MFS Multimarket Income Trust Company Profile

MFS Multimarket Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol MMT. The fund seeks to provide high current income, with capital appreciation as a secondary objective, by investing in a diversified portfolio of fixed-income securities.

The trust invests across multiple sectors and geographies, including government and corporate debt, mortgage-backed and asset-backed securities, and securities issued by companies and governments in developed and emerging markets.