Mfs Govt Mkts (NYSE:MGF) Sees Large Decline in Short Interest

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

Mfs Govt Mkts Price Performance

Shares of Mfs Govt Mkts stock traded down $0.01 during midday trading on Friday, reaching $2.70. The company had a trading volume of 57,224 shares, compared to its average volume of 75,146. The stock has a fifty day moving average price of $2.82 and a 200 day moving average price of $2.86. Mfs Govt Mkts has a fifty-two week low of $2.69 and a fifty-two week high of $3.13.

Shares of Mfs Govt Mkts are set to reverse split before the market opens 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 Dividend Announcement

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

Institutional Investors Weigh In On Mfs Govt Mkts

Several large investors have recently modified their holdings of the company. TrueMark Investments LLC bought a new position in shares of Mfs Govt Mkts in the 1st quarter worth about $178,000. Allspring Global Investments Holdings LLC boosted its stake in Mfs Govt Mkts by 0.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,166,824 shares of the company’s stock worth $3,430,000 after acquiring an additional 10,850 shares in the last quarter. Rivernorth Capital Management LLC acquired a new stake in Mfs Govt Mkts in the first quarter worth $257,000. Ameritas Advisory Services LLC grew its holdings in Mfs Govt Mkts by 44.5% in the second quarter. Ameritas Advisory Services LLC now owns 139,560 shares of the company’s stock worth $401,000 after purchasing an additional 42,989 shares during the period. Finally, Citadel Advisors LLC increased its stake in Mfs Govt Mkts by 606.8% in the second quarter. Citadel Advisors LLC now owns 75,970 shares of the company’s stock valued at $218,000 after purchasing an additional 65,222 shares in the last quarter. 54.77% of the stock is currently owned by institutional investors and hedge funds.

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.