MFS Multimarket Income Trust (NYSE:MMT) Sees Large Decline in Short Interest

MFS Multimarket Income Trust (NYSE:MMT) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 327,719 shares, a decrease of 38.0% from the September 30th total of 528,406 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 316,106 shares, the days-to-cover ratio is presently 1.0 days.

MFS Multimarket Income Trust Price Performance

Shares of NYSE MMT traded up $0.01 during trading on Tuesday, hitting $4.26. 76,185 shares of the company were exchanged, compared to its average volume of 201,717. MFS Multimarket Income Trust has a 1 year low of $4.12 and a 1 year high of $4.79. The firm’s fifty day moving average price is $4.31 and its 200 day moving average price is $4.48.

MFS Multimarket Income Trust’s stock is scheduled to reverse split on the morning of Monday, November 9th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, November 8th.

MFS Multimarket Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Friday, October 23rd were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 11.3%.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Baird Financial Group Inc. acquired a new position in MFS Multimarket Income Trust during the second quarter worth about $49,000. Gerald Baker Financial Group LLC acquired a new stake in shares of MFS Multimarket Income Trust in the first quarter valued at approximately $57,000. First Nebraska Trust Co acquired a new stake in shares of MFS Multimarket Income Trust in the third quarter valued at approximately $52,000. Integrated Wealth Concepts LLC acquired a new stake in shares of MFS Multimarket Income Trust in the second quarter valued at approximately $59,000. Finally, First Heartland Consultants Inc. purchased a new position in shares of MFS Multimarket Income Trust during the 2nd quarter worth approximately $66,000. 18.97% of the stock is currently owned by institutional investors and hedge funds.

MFS Multimarket Income Trust Company Profile

MFS Multimarket Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol MMT. The fund seeks to provide high current income, with capital appreciation as a secondary objective, by investing in a diversified portfolio of fixed-income securities.

The trust invests across multiple sectors and geographies, including government and corporate debt, mortgage-backed and asset-backed securities, and securities issued by companies and governments in developed and emerging markets.