Recent Sell / Recent Buy - MFS Multimarket Income Trust & AT&T

Today I sold my stake in MFS Multimarket Income Trust (MMT). MFS Multimarket Income Trust is a close-ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company.

I have to admit when I initially purchased MMT that I was attracted by it's generous 6% dividend yield. Unfortunately they are slowly and consistently cutting that dividend and that's never something a dividend investor can be comfortable with. As a result I decided to sell my stake in MMT.

I used the proceeds of my sale of MFS Multimarket Income Trust (MMT) to add to my position in AT&T (T). I purchased 62 shares of AT&T (T) on 6/3/13 for $34.69 per share. AT&T Inc. provides telecommunications services to consumers, businesses, and other providers in the United States and internationally.

I have been happy holding AT&T and am glad I could add to my stake after the big market drop on Friday. AT&T is a dividend aristocrat that has raised their dividend for over 25 years straight as seen in the chart below.