MFS Multimarket Income Trust (NYSE:MMT) Sees Large Increase in Short Interest

MFS Multimarket Income Trust (NYSE:MMT) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 269,919 shares, a growth of 139.9% from the August 15th total of 112,503 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 289,915 shares, the days-to-cover ratio is currently 0.9 days.

MFS Multimarket Income Trust Stock Performance

Shares of NYSE MMT traded down $0.01 during mid-day trading on Friday, reaching $4.37. 145,909 shares of the company were exchanged, compared to its average volume of 241,978. The company’s 50 day moving average price is $4.42 and its 200 day moving average price is $4.50. MFS Multimarket Income Trust has a 52 week low of $4.31 and a 52 week high of $4.87.

MFS Multimarket Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were given a $0.04 dividend. The ex-dividend date was Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 11.0%.

Institutional Investors Weigh In On MFS Multimarket Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new stake in MFS Multimarket Income Trust in the second quarter valued at approximately $59,000. NewEdge Advisors LLC boosted its position in MFS Multimarket Income Trust by 260.5% during the 2nd quarter. NewEdge Advisors LLC now owns 187,488 shares of the closed-end fund’s stock valued at $825,000 after acquiring an additional 135,487 shares in the last quarter. Baird Financial Group Inc. bought a new stake in shares of MFS Multimarket Income Trust during the second quarter valued at approximately $49,000. Allworth Financial LP grew its position in shares of MFS Multimarket Income Trust by 8.3% in the 2nd 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 during the period. Finally, Waverly Advisors LLC grew its holdings in MFS Multimarket Income Trust by 395.1% in the second quarter. Waverly Advisors LLC now owns 72,466 shares of the closed-end fund’s stock worth $319,000 after purchasing an additional 57,829 shares during the period. Institutional investors own 18.97% of the company’s stock.

About MFS Multimarket Income Trust

MFS Multimarket Income Trust (NYSE: MMT) is a closed-end management investment company that seeks to provide high current income through investments in a diversified global portfolio of income-producing securities. Launched in 1987, the trust is managed by MFS Investment Management, a Boston-based asset manager with roots dating back to 1924. MFS Investment Management acts as the investment adviser and leverages its multi-asset research capabilities to build and monitor MMT’s portfolio on behalf of shareholders.

The trust’s principal investment activities encompass a broad range of fixed-income and equity-related instruments.