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

Shares of MFS Multimarket Income Trust (NYSE:MMT) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.74 and traded as low as $4.61. MFS Multimarket Income Trust shares last traded at $4.63, with a volume of 50,247 shares changing hands.

MFS Multimarket Income Trust Price Performance

The firm’s fifty day simple moving average is $4.66 and its 200 day simple moving average is $4.74.

MFS Multimarket Income Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 14th will be paid a $0.0338 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.41 dividend on an annualized basis and a yield of 8.79%.

Hedge Funds Weigh In On MFS Multimarket Income Trust

A number of institutional investors have recently modified their holdings of MMT. Wolverine Asset Management LLC acquired a new position in MFS Multimarket Income Trust during the 3rd quarter worth approximately $320,000. Shaker Financial Services LLC grew its stake in shares of MFS Multimarket Income Trust by 13.1% during the third quarter. Shaker Financial Services LLC now owns 286,096 shares of the closed-end fund’s stock worth $1,393,000 after buying an additional 33,239 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of MFS Multimarket Income Trust during the third quarter worth $85,000. Kovitz Investment Group Partners LLC bought a new position in shares of MFS Multimarket Income Trust in the 3rd quarter valued at $103,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of MFS Multimarket Income Trust by 33.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 367,292 shares of the closed-end fund’s stock valued at $1,723,000 after acquiring an additional 92,815 shares in the last quarter. Institutional investors and hedge funds own 18.97% of the company’s stock.

About MFS Multimarket Income Trust

MFS Multimarket Income Trust is a closed ended fixed income mutual fund launched and managed by MFS Investment Management, Inc The fund invests in the fixed income markets across the globe with greater emphasis on United States. It seeks to invest in fixed income securities issued by U.S. Government, foreign government, mortgage backed, and other asset-backed securities of U.S.