Mfs Govt Mkts (NYSE:MGF) Sees Significant Drop in Short Interest

Mfs Govt Mkts (NYSE:MGF) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 9,516 shares, a drop of 79.7% from the September 30th total of 46,943 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 13,190 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MGF. 1607 Capital Partners LLC grew its position in Mfs Govt Mkts by 5.0% in the 2nd quarter. 1607 Capital Partners LLC now owns 2,392,698 shares of the company’s stock worth $6,867,000 after purchasing an additional 113,961 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Mfs Govt Mkts by 3.6% in the first 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 during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 valued at $3,430,000 after buying an additional 10,850 shares during the last quarter. Ameritas Advisory Services LLC raised its holdings in shares of Mfs Govt Mkts by 44.5% during the second quarter. Ameritas Advisory Services LLC now owns 139,560 shares of the company’s stock valued at $401,000 after buying an additional 42,989 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its holdings in shares of Mfs Govt Mkts by 12.6% during the second quarter. Dynamic Advisor Solutions LLC now owns 101,447 shares of the company’s stock valued at $291,000 after buying an additional 11,365 shares during the last quarter. 54.77% of the stock is owned by institutional investors and hedge funds.

Mfs Govt Mkts Price Performance

Shares of MGF opened at $13.39 on Tuesday. The firm has a fifty day moving average of $13.82 and a 200-day moving average of $14.39. Mfs Govt Mkts has a 1 year low of $13.20 and a 1 year high of $15.65.

Mfs Govt Mkts Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be issued a $0.10 dividend. This is a boost from Mfs Govt Mkts’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.0%.

About Mfs Govt Mkts

MFS Government Markets Income Trust (NYSE: MGF) is a closed-end investment company that seeks to provide investors with a high level of current income, with capital appreciation considered a secondary objective. The fund invests primarily in government-related fixed-income securities.

Its portfolio may include obligations issued or guaranteed by the U.S. government, U.S. government agencies and instrumentalities, as well as mortgage-related securities and other income-producing debt instruments.