MFS Multimarket Income Trust (NYSE:MMT) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

MFS Multimarket Income Trust (NYSE:MMT)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.58 and traded as low as $4.44. MFS Multimarket Income Trust shares last traded at $4.4550, with a volume of 577,441 shares traded.

MFS Multimarket Income Trust Trading Up 0.3%

The firm’s 50 day simple moving average is $4.47 and its two-hundred day simple moving average is $4.58.

MFS Multimarket Income Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd will be issued a $0.04 dividend. This is a boost from MFS Multimarket Income Trust’s previous monthly dividend of $0.03. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a c) annualized dividend and a dividend yield of 10.8%.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Sit Investment Associates Inc. raised its position in shares of MFS Multimarket Income Trust by 127.2% during the 4th quarter. Sit Investment Associates Inc. now owns 642,159 shares of the closed-end fund’s stock worth $2,986,000 after purchasing an additional 359,502 shares during the period. CoreCap Advisors LLC boosted its position in MFS Multimarket Income Trust by 3,190.9% during the 2nd quarter. CoreCap Advisors LLC now owns 51,338 shares of the closed-end fund’s stock valued at $226,000 after purchasing an additional 49,778 shares during the period. Rivernorth Capital Management LLC bought a new position in MFS Multimarket Income Trust during the 1st quarter worth $1,558,000. Gerald Baker Financial Group LLC bought a new position in MFS Multimarket Income Trust during the 1st quarter worth $57,000. Finally, Allspring Global Investments Holdings LLC increased its position in MFS Multimarket Income Trust by 3.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,450,887 shares of the closed-end fund’s stock worth $15,943,000 after buying an additional 106,882 shares during the period. Institutional investors and hedge funds 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.