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

MFS Multimarket Income Trust (NYSE:MMT)’s stock price crossed 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 changing hands.

MFS Multimarket Income Trust Stock Performance

The firm’s 50 day moving average is $4.51 and its 200-day moving average is $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 issued a $0.0328 dividend. The ex-dividend date was Monday, June 8th. This represents a c) annualized dividend and a yield of 8.9%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MMT. Decision Investments Inc. boosted its position in shares of MFS Multimarket Income Trust by 9.8% in the first quarter. Decision Investments Inc. now owns 32,500 shares of the closed-end fund’s stock worth $150,000 after acquiring an additional 2,900 shares during the last quarter. Focus Partners Wealth increased its position in 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 worth $133,000 after purchasing an additional 3,550 shares during the last quarter. Founders Financial Alliance LLC increased its position in MFS Multimarket Income Trust by 14.4% during the fourth quarter. Founders Financial Alliance LLC now owns 30,924 shares of the closed-end fund’s stock worth $144,000 after purchasing an additional 3,883 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in MFS Multimarket Income Trust by 1.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 378,191 shares of the closed-end fund’s stock worth $1,759,000 after purchasing an additional 4,289 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in MFS Multimarket Income Trust by 23.1% during the second quarter. Ameriprise Financial Inc. now owns 27,513 shares of the closed-end fund’s stock worth $129,000 after purchasing an additional 5,161 shares during the period. Hedge funds and other institutional investors own 18.97% of the company’s stock.

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.