Mfs Govt Mkts Stock to Reverse Split on Thursday, October 8th (NYSE:MGF)

Mfs Govt Mkts (NYSE:MGF)’s stock is scheduled to reverse split on the morning of Thursday, October 8th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, October 7th.

Mfs Govt Mkts Stock Up 0.2%

Shares of NYSE:MGF opened at $2.71 on Friday. The stock’s 50-day moving average price is $2.80 and its 200-day moving average price is $2.86. Mfs Govt Mkts has a 12-month low of $2.68 and a 12-month high of $3.13.

Mfs Govt Mkts Announces Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd were issued a dividend of $0.02 per share. The ex-dividend date was Tuesday, September 22nd. This represents a $0.24 annualized dividend and a yield of 8.8%.

Institutional Investors Weigh In On Mfs Govt Mkts

Institutional investors have recently added to or reduced their stakes in the company. 1607 Capital Partners LLC grew its stake in shares of Mfs Govt Mkts by 5.0% in the second quarter. 1607 Capital Partners LLC now owns 2,392,698 shares of the company’s stock worth $6,867,000 after purchasing an additional 113,961 shares during the last quarter. Rivernorth Capital Management LLC bought a new position in Mfs Govt Mkts during the 1st quarter valued at approximately $257,000. Citadel Advisors LLC raised its position in Mfs Govt Mkts by 606.8% during the 2nd quarter. Citadel Advisors LLC now owns 75,970 shares of the company’s stock valued at $218,000 after purchasing an additional 65,222 shares during the last quarter. TrueMark Investments LLC bought a new position in Mfs Govt Mkts during the 1st quarter valued at approximately $178,000. Finally, Private Advisor Group LLC lifted its holdings in Mfs Govt Mkts by 3.6% in the 1st quarter. Private Advisor Group LLC now owns 1,425,641 shares of the company’s stock worth $4,191,000 after buying an additional 49,552 shares during the period. Hedge funds and other institutional investors own 54.77% of the company’s stock.

About Mfs Govt Mkts

MFS Government Markets Income Trust (NYSE: MGF) is a closed-end investment company managed by MFS Investment Management. The trust seeks to provide current income by investing primarily in securities issued or guaranteed by the U.S. government, its agencies and instrumentalities.

Its portfolio may include Treasury securities, agency securities and mortgage-backed securities, along with other fixed-income investments considered consistent with its investment objectives. The value and income of these holdings can be affected by changes in interest rates, credit conditions and prepayment activity.

The trust provides investors with access to a professionally managed portfolio focused on government-related fixed-income markets.