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

MFS Multimarket Income Trust (NYSE:MMT) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.62 and traded as low as $4.53. MFS Multimarket Income Trust shares last traded at $4.5540, with a volume of 197,509 shares.

MFS Multimarket Income Trust Trading Up 0.5%

The company has a 50 day moving average of $4.53 and a 200 day moving average of $4.62.

MFS Multimarket Income Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a dividend of $0.0328 per share. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend was Monday, June 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MMT. Geneos Wealth Management Inc. boosted its position in shares of 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 worth $47,000 after acquiring an additional 9,001 shares in the last quarter. Gerald Baker Financial Group LLC acquired a new position in shares of MFS Multimarket Income Trust during the 1st quarter worth about $57,000. Melfa Wealth Management Inc. acquired a new position in shares of MFS Multimarket Income Trust during the 4th quarter worth about $72,000. Beacon Pointe Advisors LLC acquired a new position in shares of MFS Multimarket Income Trust during the 4th quarter worth about $73,000. Finally, Jane Street Group LLC acquired a new position in shares of MFS Multimarket Income Trust during the 2nd quarter worth about $84,000. 18.97% of the stock is owned by institutional investors and hedge funds.

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.