MFS Multimarket Income Trust (NYSE:MMT) Shares Break Above Fifty Day Moving Average – Time to Sell?

MFS Multimarket Income Trust (NYSE:MMT) shares crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $4.29 and traded as high as $4.31. MFS Multimarket Income Trust shares last traded at $4.3050, with a volume of 179,779 shares trading hands.

MFS Multimarket Income Trust Stock Performance

The firm’s 50 day moving average is $4.29 and its two-hundred day moving average is $4.47.

Shares of MFS Multimarket Income Trust are set 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 Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 23rd were issued a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a yield of 11.1%. The ex-dividend date was Friday, October 23rd.

Hedge Funds Weigh In On MFS Multimarket Income Trust

Several hedge funds have recently bought and sold shares of MMT. Stonebridge Financial Planning Group LLC boosted its holdings in MFS Multimarket Income Trust by 20.7% during the third quarter. Stonebridge Financial Planning Group LLC now owns 115,843 shares of the closed-end fund’s stock worth $496,000 after buying an additional 19,845 shares in the last quarter. Allworth Financial LP lifted its stake in shares of MFS Multimarket Income Trust by 9.9% during the 3rd quarter. Allworth Financial LP now owns 44,596 shares of the closed-end fund’s stock worth $196,000 after purchasing an additional 4,000 shares during the period. First Nebraska Trust Co bought a new stake in shares of MFS Multimarket Income Trust in the third quarter worth $52,000. Sowell Financial Services LLC raised its stake in shares of MFS Multimarket Income Trust by 103.5% during the third quarter. Sowell Financial Services LLC now owns 88,620 shares of the closed-end fund’s stock valued at $379,000 after purchasing an additional 45,075 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of MFS Multimarket Income Trust in the second quarter worth $59,000. Institutional investors own 18.97% of the company’s stock.

About MFS Multimarket Income Trust

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.