MGF Stock Summary and Trading Ideas (MFS Govt Markets Income | NYSE:MGF)

The fund’s investment objective is to seek high current income, but may also consider capital appreciation. MFS normally invests at least 80% of the fund’s net assets, including borrowings for investment purposes, in U.S. and foreign government securities. MFS may invest the fund’s assets in other types of debt instruments. MFS generally invests substantially all of the fund’s assets in investment grade debt instruments. MFS may invest the fund’s assets in U.S. and foreign securities, including emerging market securities

MFS Govt Markets Income trades on the NYSE stock market under the symbol MGF.

As of May 10, 2024, MGF stock price climbed to $3.08 with 54,735 million shares trading.

MGF has a beta of 0.52, meaning it tends to be less sensitive to market movements. MGF has a correlation of 0.30 to the broad based SPY ETF.

MGF has a market cap of $100.38 million. This is considered a Micro Cap stock.

In the last 3 years, MGF stock traded as high as $4.45 and as low as $2.91.

MGF has underperformed the market in the last year with a price return of +0.4% while the SPY ETF gained +27.8%. MGF has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -2.5% and -0.6%, respectively, while the SPY returned +4.2% and +2.5%, respectively.

MGF support price is $3.04 and resistance is $3.10 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MGF stock will trade within this expected range on the day.