MFS Multimarket Income Trust (NYSE:MMT) Stock Price Breaks Below 200 Day Moving Average – Time to Sell?

MFS Multimarket Income Trust (NYSE:MMT) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $4.45 and traded as low as $4.18. MFS Multimarket Income Trust shares last traded at $4.2050, with a volume of 164,749 shares changing hands.

MFS Multimarket Income Trust Price Performance

The company has a fifty day simple moving average of $4.38 and a two-hundred day simple moving average of $4.45.

MFS Multimarket Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 11.4%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MMT. Integrated Wealth Concepts LLC purchased a new stake in shares of MFS Multimarket Income Trust in the 2nd quarter worth approximately $59,000. NewEdge Advisors LLC increased its holdings in MFS Multimarket Income Trust by 260.5% during the second quarter. NewEdge Advisors LLC now owns 187,488 shares of the closed-end fund’s stock valued at $825,000 after buying an additional 135,487 shares during the period. Baird Financial Group Inc. bought a new position in MFS Multimarket Income Trust in the second quarter worth approximately $49,000. Allworth Financial LP raised its stake in MFS Multimarket Income Trust by 8.3% in the second quarter. Allworth Financial LP now owns 40,596 shares of the closed-end fund’s stock worth $179,000 after buying an additional 3,096 shares in the last quarter. Finally, Waverly Advisors LLC lifted its holdings in MFS Multimarket Income Trust by 395.1% during the second quarter. Waverly Advisors LLC now owns 72,466 shares of the closed-end fund’s stock worth $319,000 after buying an additional 57,829 shares during the period. Hedge funds and other institutional investors own 18.97% of the company’s stock.

MFS Multimarket Income Trust Company Profile

MFS Multimarket Income Trust (NYSE: MMT) is a closed-end investment company managed by MFS Investment Management. The fund seeks to provide current income and, as a secondary objective, capital appreciation by investing in a diversified portfolio of fixed-income securities and other income-producing investments.

The trust may invest across multiple sectors, credit qualities and geographic regions, including U.S. and foreign government obligations, corporate bonds, mortgage- and asset-backed securities, emerging-market debt and high-yield securities.