MFS Multimarket Income Trust (NYSE:MMT) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

MFS Multimarket Income Trust (NYSE:MMT) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.72 and traded as low as $4.62. MFS Multimarket Income Trust shares last traded at $4.63, with a volume of 119,879 shares trading hands.

MFS Multimarket Income Trust Stock Performance

The business’s 50-day simple moving average is $4.66 and its 200 day simple moving average is $4.72.

MFS Multimarket Income Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.0337 per share. This is a boost from MFS Multimarket Income Trust’s previous monthly dividend of $0.03. This represents a $0.40 dividend on an annualized basis and a yield of 8.73%. The ex-dividend date is Tuesday, March 18th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Kovitz Investment Group Partners LLC purchased a new stake in shares of MFS Multimarket Income Trust during the third quarter valued at approximately $103,000. Atomi Financial Group Inc. boosted its stake in shares of MFS Multimarket Income Trust by 6.8% during the fourth quarter. Atomi Financial Group Inc. now owns 59,447 shares of the closed-end fund’s stock valued at $279,000 after purchasing an additional 3,759 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of MFS Multimarket Income Trust by 33.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 367,292 shares of the closed-end fund’s stock valued at $1,723,000 after purchasing an additional 92,815 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of MFS Multimarket Income Trust by 0.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,270,086 shares of the closed-end fund’s stock valued at $15,337,000 after purchasing an additional 18,751 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of MFS Multimarket Income Trust during the fourth quarter valued at approximately $3,922,000. 18.97% of the stock is currently owned by institutional investors.

MFS Multimarket Income Trust Company Profile

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.