Mfs Govt Mkts Stock to Reverse Split on Thursday, October 8th (NYSE:MGF)

Mfs Govt Mkts (NYSE:MGF)’s stock is set to reverse split before the market opens on Thursday, October 8th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, October 7th.

Mfs Govt Mkts Stock Up 0.4%

Shares of MGF opened at $2.70 on Wednesday. The company’s 50 day moving average price is $2.81 and its 200 day moving average price is $2.86. Mfs Govt Mkts has a 52 week low of $2.68 and a 52 week high of $3.13.

Mfs Govt Mkts Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be given a $0.02 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 8.9%.

Institutional Trading of Mfs Govt Mkts

Hedge funds and other institutional investors have recently modified their holdings of the company. 1607 Capital Partners LLC increased its position in Mfs Govt Mkts by 5.0% in the 2nd quarter. 1607 Capital Partners LLC now owns 2,392,698 shares of the company’s stock worth $6,867,000 after purchasing an additional 113,961 shares during the last quarter. Rivernorth Capital Management LLC purchased a new stake in shares of Mfs Govt Mkts during the 1st quarter worth about $257,000. Citadel Advisors LLC lifted its holdings in shares of Mfs Govt Mkts by 606.8% during the 2nd quarter. Citadel Advisors LLC now owns 75,970 shares of the company’s stock valued at $218,000 after buying an additional 65,222 shares during the last quarter. TrueMark Investments LLC acquired a new stake in shares of Mfs Govt Mkts during the 1st quarter valued at about $178,000. Finally, Private Advisor Group LLC grew its stake in shares of Mfs Govt Mkts by 3.6% in the 1st quarter. Private Advisor Group LLC now owns 1,425,641 shares of the company’s stock valued at $4,191,000 after buying an additional 49,552 shares in the last quarter. 54.77% of the stock is currently owned by hedge funds and other institutional investors.

About Mfs Govt Mkts

MFS Government Markets Income Trust (NYSE: MGF) is a closed-end investment company managed by MFS Investment Management. The trust seeks to provide current income by investing primarily in securities issued or guaranteed by the U.S. government, its agencies and instrumentalities.

Its portfolio may include Treasury securities, agency securities and mortgage-backed securities, along with other fixed-income investments considered consistent with its investment objectives. The value and income of these holdings can be affected by changes in interest rates, credit conditions and prepayment activity.

The trust provides investors with access to a professionally managed portfolio focused on government-related fixed-income markets.