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 two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.73 and traded as low as $4.66. MFS Multimarket Income Trust shares last traded at $4.67, with a volume of 92,642 shares.

MFS Multimarket Income Trust Price Performance

The firm has a fifty day moving average of $4.66 and a 200-day moving average of $4.73.

MFS Multimarket Income Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.0334 per share. This represents a $0.40 annualized dividend and a yield of 8.60%. The ex-dividend date is Tuesday, February 18th.

Institutional Trading of MFS Multimarket Income Trust

Several hedge funds have recently added to or reduced their stakes in MMT. Shaker Financial Services LLC raised its stake 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 valued at $1,393,000 after acquiring an additional 33,239 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in MFS Multimarket Income Trust during the 3rd quarter valued at $85,000. Wolverine Asset Management LLC bought a new stake in MFS Multimarket Income Trust during the 3rd quarter valued at $320,000. Kovitz Investment Group Partners LLC bought a new stake in MFS Multimarket Income Trust during the 3rd quarter valued at $103,000. Finally, Atomi Financial Group Inc. raised its stake in MFS Multimarket Income Trust by 6.8% during the 4th quarter. Atomi Financial Group Inc. now owns 59,447 shares of the closed-end fund’s stock valued at $279,000 after acquiring an additional 3,759 shares in the last quarter. 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.