MFS Multimarket Income Trust (NYSE:MMT) Shares Cross Below 200-Day Moving Average – What’s Next?

Shares of MFS Multimarket Income Trust (NYSE:MMT) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.70 and traded as low as $4.64. MFS Multimarket Income Trust shares last traded at $4.6450, with a volume of 90,808 shares.

MFS Multimarket Income Trust Stock Performance

The company’s 50 day moving average price is $4.70 and its two-hundred day moving average price is $4.70.

MFS Multimarket Income Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.0337 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMT. Pathstone Holdings LLC raised its holdings in MFS Multimarket Income Trust by 19.6% in the third quarter. Pathstone Holdings LLC now owns 603,311 shares of the closed-end fund’s stock worth $2,884,000 after purchasing an additional 98,797 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of MFS Multimarket Income Trust by 1.1% in the 3rd quarter. Invesco Ltd. now owns 771,385 shares of the closed-end fund’s stock valued at $3,687,000 after buying an additional 8,367 shares in the last quarter. Founders Financial Alliance LLC grew its position in shares of MFS Multimarket Income Trust by 78.7% in the 3rd quarter. Founders Financial Alliance LLC now owns 27,041 shares of the closed-end fund’s stock worth $129,000 after buying an additional 11,912 shares during the last quarter. Impact Capital Partners LLC bought a new position in shares of MFS Multimarket Income Trust during the 3rd quarter worth approximately $48,000. Finally, Ashton Thomas Securities LLC lifted its position in MFS Multimarket Income Trust by 36.4% during the third quarter. Ashton Thomas Securities LLC now owns 37,500 shares of the closed-end fund’s stock valued at $179,000 after acquiring an additional 10,000 shares during the last quarter. 18.97% of the stock is currently owned by institutional investors.

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.