MFS Multimarket Income Trust Shares to Reverse Split on Monday, November 9th (NYSE:MMT)

Shares of MFS Multimarket Income Trust (NYSE:MMT) are going to reverse split before the market opens on Monday, November 9th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, November 8th.

MFS Multimarket Income Trust Stock Up 0.2%

NYSE:MMT opened at $4.17 on Friday. The stock has a 50 day moving average of $4.31 and a 200-day moving average of $4.48. MFS Multimarket Income Trust has a 52 week low of $4.12 and a 52 week high of $4.79.

MFS Multimarket Income Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 23rd were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $0.48 annualized dividend and a dividend yield of 11.5%.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Several large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of MFS Multimarket Income Trust by 3.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,450,887 shares of the closed-end fund’s stock worth $15,943,000 after acquiring an additional 106,882 shares during the period. Rivernorth Capital Management LLC bought a new stake in MFS Multimarket Income Trust in the 1st quarter valued at about $1,558,000. NewEdge Advisors LLC lifted its position in MFS Multimarket Income Trust by 260.5% in the 2nd quarter. NewEdge Advisors LLC now owns 187,488 shares of the closed-end fund’s stock valued at $825,000 after purchasing an additional 135,487 shares during the last quarter. Cetera Investment Advisers boosted its stake in MFS Multimarket Income Trust by 75.7% during the 1st quarter. Cetera Investment Advisers now owns 178,117 shares of the closed-end fund’s stock valued at $823,000 after purchasing an additional 76,756 shares during the period. Finally, Fortitude Advisory Group L.L.C. boosted its stake in MFS Multimarket Income Trust by 83.9% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 163,481 shares of the closed-end fund’s stock valued at $719,000 after purchasing an additional 74,568 shares during the period. 18.97% of the stock is owned by institutional investors and hedge funds.

MFS Multimarket Income Trust Company Profile

MFS Multimarket Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol MMT. The fund seeks to provide high current income, with capital appreciation as a secondary objective, by investing in a diversified portfolio of fixed-income securities.

The trust invests across multiple sectors and geographies, including government and corporate debt, mortgage-backed and asset-backed securities, and securities issued by companies and governments in developed and emerging markets.