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 two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.51 and traded as low as $4.44. MFS Multimarket Income Trust shares last traded at $4.44, with a volume of 128,451 shares.

MFS Multimarket Income Trust Stock Up 0.1%

The stock’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $4.51.

MFS Multimarket Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were given a $0.04 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date was Monday, August 24th.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Large investors have recently added to or reduced their stakes in the stock. Readystate Asset Management LP bought a new position in MFS Multimarket Income Trust during the 2nd quarter worth $365,000. Fortitude Advisory Group L.L.C. lifted its position in shares of MFS Multimarket Income Trust by 83.9% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 163,481 shares of the closed-end fund’s stock valued at $719,000 after acquiring an additional 74,568 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of MFS Multimarket Income Trust during the 2nd quarter worth $125,000. Wedbush Securities Inc. grew its holdings in shares of MFS Multimarket Income Trust by 117.7% during the 2nd quarter. Wedbush Securities Inc. now owns 25,190 shares of the closed-end fund’s stock worth $111,000 after purchasing an additional 13,617 shares in the last quarter. Finally, First Heartland Consultants Inc. bought a new position in shares of MFS Multimarket Income Trust in the second quarter worth $66,000. 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.