MFS Multimarket Income Trust (NYSE:MMT) Stock Price Up 300.3% – What’s Next?

Shares of MFS Multimarket Income Trust (NYSE:MMT) rose 300.3% during trading on Monday. The stock traded as high as $17.00 and last traded at $17.1340. Approximately 6,162 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 202,649 shares. The stock had previously closed at $4.28.

MFS Multimarket Income Trust Stock Up 1.6%

The company’s 50 day moving average price is $4.29 and its 200 day moving average price is $4.47.

MFS Multimarket Income Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Friday, October 23rd were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $1.92 dividend on an annualized basis and a yield of 11.0%. This is a boost from MFS Multimarket Income Trust’s previous monthly dividend of $0.04.

Hedge Funds Weigh In On MFS Multimarket Income Trust

A number of large investors have recently modified their holdings of the business. Allworth Financial LP lifted its holdings in shares of MFS Multimarket Income Trust by 8.3% in the 2nd quarter. Allworth Financial LP now owns 40,596 shares of the closed-end fund’s stock valued at $179,000 after buying an additional 3,096 shares during the period. Baird Financial Group Inc. acquired a new position in MFS Multimarket Income Trust during the second quarter worth $49,000. Gerald Baker Financial Group LLC purchased a new position in MFS Multimarket Income Trust in the first quarter worth $57,000. First Nebraska Trust Co purchased a new position in MFS Multimarket Income Trust in the third quarter worth $52,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in MFS Multimarket Income Trust in the second quarter valued at $59,000. 18.97% of the stock is owned by hedge funds and other institutional investors.

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.