Mfs Govt Mkts (NYSE:MGF) Trading 0.5% Higher – Here’s What Happened

Shares of Mfs Govt Mkts (NYSE:MGF) shot up 0.5% on Tuesday . The company traded as high as $3.11 and last traded at $3.1050. 11,496 shares changed hands during trading, a decline of 77% from the average session volume of 49,465 shares. The stock had previously closed at $3.09.

Mfs Govt Mkts Stock Performance

The firm has a 50 day moving average of $3.09 and a 200-day moving average of $3.08.

Mfs Govt Mkts Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 28th. Investors of record on Tuesday, November 18th will be paid a $0.0194 dividend. The ex-dividend date is Tuesday, November 18th. This is a positive change from Mfs Govt Mkts’s previous monthly dividend of $0.02. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%.

Institutional Investors Weigh In On Mfs Govt Mkts

A number of institutional investors have recently bought and sold shares of MGF. Susquehanna International Group LLP bought a new stake in Mfs Govt Mkts in the 3rd quarter valued at $49,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Mfs Govt Mkts during the 3rd quarter valued at about $32,000. Raymond James Financial Inc. increased its stake in Mfs Govt Mkts by 7.8% in the third quarter. Raymond James Financial Inc. now owns 303,194 shares of the company’s stock valued at $946,000 after acquiring an additional 21,821 shares during the period. Private Advisor Group LLC increased its stake in Mfs Govt Mkts by 4.5% in the third quarter. Private Advisor Group LLC now owns 1,287,332 shares of the company’s stock valued at $4,016,000 after acquiring an additional 55,894 shares during the period. Finally, BankPlus Wealth Management LLC acquired a new position in Mfs Govt Mkts in the third quarter worth about $48,000. Institutional investors and hedge funds own 54.77% of the company’s stock.

About Mfs Govt Mkts

MFS Government Markets Income Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in the fixed income markets of United States. It primarily invests in investment grade debt instruments. The fund also invests in mortgage backed, U.S.