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

MFS Multimarket Income Trust (NYSE:MMT)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.74 and traded as low as $4.60. MFS Multimarket Income Trust shares last traded at $4.62, with a volume of 93,483 shares trading hands.

MFS Multimarket Income Trust Price Performance

The stock has a fifty day simple moving average of $4.68 and a two-hundred day simple moving average of $4.74.

MFS Multimarket Income Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 14th will be paid a dividend of $0.0338 per share. This represents a $0.41 annualized dividend and a yield of 8.79%. The ex-dividend date is Tuesday, January 14th.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its position in shares of MFS Multimarket Income Trust by 23.8% during the second quarter. Commonwealth Equity Services LLC now owns 168,469 shares of the closed-end fund’s stock worth $788,000 after buying an additional 32,358 shares in the last quarter. Shaker Financial Services LLC grew its holdings in MFS Multimarket Income Trust by 13.1% during the 3rd quarter. Shaker Financial Services LLC now owns 286,096 shares of the closed-end fund’s stock worth $1,393,000 after acquiring an additional 33,239 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of MFS Multimarket Income Trust in the 3rd quarter worth about $85,000. Wolverine Asset Management LLC acquired a new stake in shares of MFS Multimarket Income Trust in the 3rd quarter valued at about $320,000. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of MFS Multimarket Income Trust during the third quarter worth about $103,000. Institutional investors and hedge funds own 18.97% of the company’s stock.

About MFS Multimarket Income Trust

MFS Multimarket Income Trust is a closed ended fixed income mutual fund launched and managed by MFS Investment Management, Inc The fund invests in the fixed income markets across the globe with greater emphasis on United States. It seeks to invest in fixed income securities issued by U.S. Government, foreign government, mortgage backed, and other asset-backed securities of U.S.