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

MFS Multimarket Income Trust (NYSE:MMT) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.74 and traded as low as $4.59. MFS Multimarket Income Trust shares last traded at $4.69, with a volume of 238,136 shares.

MFS Multimarket Income Trust Trading Down 0.6 %

The firm has a fifty day moving average price of $4.70 and a two-hundred day moving average price of $4.74.

MFS Multimarket Income Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.0339 per share. The ex-dividend date was Tuesday, December 17th. This represents a $0.41 dividend on an annualized basis and a yield of 8.72%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MMT. Commonwealth Equity Services LLC raised its holdings in MFS Multimarket Income Trust by 23.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 168,469 shares of the closed-end fund’s stock worth $788,000 after acquiring an additional 32,358 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in shares of MFS Multimarket Income Trust in the third quarter worth $320,000. Shaker Financial Services LLC raised its stake in shares of MFS Multimarket Income Trust by 13.1% in the third quarter. Shaker Financial Services LLC now owns 286,096 shares of the closed-end fund’s stock worth $1,393,000 after purchasing an additional 33,239 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of MFS Multimarket Income Trust during the third quarter valued at $85,000. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of MFS Multimarket Income Trust during the third quarter valued at $103,000. Institutional investors 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.