Mfs Govt Mkts (NYSE:MGF) Shares Shorted: Short Interest Down 76.0% in September

Mfs Govt Mkts (NYSE:MGF) was the target of a large drop in short interest in September. As of September 15th, there was short interest totaling 17,985 shares, a drop of 76.0% from the August 31st total of 74,959 shares. Based on an average daily trading volume, of 117,003 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On Mfs Govt Mkts

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

Mfs Govt Mkts Trading Down 0.4%

MGF traded down $0.01 on Monday, hitting $2.69. The company had a trading volume of 35,689 shares, compared to its average volume of 82,926. The business’s fifty day simple moving average is $2.82 and its 200 day simple moving average 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 shares are going to reverse split on 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 Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be paid a $0.02 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $0.24 annualized dividend and a dividend yield of 8.9%.

Mfs Govt Mkts Company Profile

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.