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

MFS Multimarket Income Trust (NYSE:MMT) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.58 and traded as low as $4.44. MFS Multimarket Income Trust shares last traded at $4.4550, with a volume of 577,441 shares trading hands.

MFS Multimarket Income Trust Price Performance

The stock has a 50-day simple moving average of $4.47 and a 200-day simple moving average of $4.58.

MFS Multimarket Income Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 23rd will be paid a $0.04 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. This is a boost from MFS Multimarket Income Trust’s previous monthly dividend of $0.03. The ex-dividend date is Thursday, July 23rd.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. increased its position in shares of MFS Multimarket Income Trust by 780.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 10,155 shares of the closed-end fund’s stock worth $47,000 after purchasing an additional 9,001 shares during the last quarter. Gerald Baker Financial Group LLC bought a new stake in MFS Multimarket Income Trust in the first quarter valued at about $57,000. First Heartland Consultants Inc. acquired a new stake in MFS Multimarket Income Trust during the second quarter valued at approximately $66,000. Melfa Wealth Management Inc. bought a new position in MFS Multimarket Income Trust during the 4th quarter worth approximately $72,000. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of MFS Multimarket Income Trust in the 4th quarter worth approximately $73,000. 18.97% of the stock is currently owned by institutional investors.

MFS Multimarket Income Trust Company Profile

MFS Multimarket Income Trust (NYSE: MMT) is a closed-end management investment company that seeks to provide high current income through investments in a diversified global portfolio of income-producing securities. Launched in 1987, the trust is managed by MFS Investment Management, a Boston-based asset manager with roots dating back to 1924. MFS Investment Management acts as the investment adviser and leverages its multi-asset research capabilities to build and monitor MMT’s portfolio on behalf of shareholders.

The trust’s principal investment activities encompass a broad range of fixed-income and equity-related instruments.