MFS Charter Income Trust (NYSE:MCR) Sees Large Increase in Short Interest

MFS Charter Income Trust (NYSE:MCR) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totaling 58,998 shares, an increase of 24.6% from the November 30th total of 47,336 shares. Based on an average daily volume of 47,936 shares, the short-interest ratio is presently 1.2 days. Based on an average daily volume of 47,936 shares, the short-interest ratio is presently 1.2 days.

MFS Charter Income Trust Price Performance

Shares of MCR stock traded down $0.03 during trading hours on Wednesday, reaching $6.26. The company had a trading volume of 251,626 shares, compared to its average volume of 65,785. MFS Charter Income Trust has a twelve month low of $5.57 and a twelve month high of $6.58. The stock’s fifty day simple moving average is $6.32 and its 200 day simple moving average is $6.35.

MFS Charter Income Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.0449 dividend. The ex-dividend date is Tuesday, December 16th. This represents a c) dividend on an annualized basis and a yield of 8.6%.

Institutional Investors Weigh In On MFS Charter Income Trust

A number of hedge funds have recently bought and sold shares of the business. Pathstone Holdings LLC increased its stake in shares of MFS Charter Income Trust by 15.0% in the third quarter. Pathstone Holdings LLC now owns 441,296 shares of the financial services provider’s stock worth $2,833,000 after buying an additional 57,658 shares during the last quarter. GraniteShares Advisors LLC raised its position in shares of MFS Charter Income Trust by 9.7% during the 3rd quarter. GraniteShares Advisors LLC now owns 480,950 shares of the financial services provider’s stock valued at $3,088,000 after acquiring an additional 42,364 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in MFS Charter Income Trust in the third quarter worth $230,000. Shaker Financial Services LLC boosted its holdings in MFS Charter Income Trust by 10.2% in the third quarter. Shaker Financial Services LLC now owns 376,312 shares of the financial services provider’s stock worth $2,416,000 after purchasing an additional 34,958 shares during the period. Finally, UBS Group AG increased its stake in MFS Charter Income Trust by 36.1% during the third quarter. UBS Group AG now owns 122,116 shares of the financial services provider’s stock valued at $784,000 after purchasing an additional 32,395 shares during the last quarter.

About MFS Charter Income Trust

MFS Charter Income Trust (NYSE: MCR) is a diversified, closed-end management investment company organized in 1987. As part of the MFS Investment Management family, the Trust seeks to provide its shareholders with high current income and preservation of capital. The fund’s shares trade on the New York Stock Exchange, offering investors access to a managed portfolio of income-oriented securities within a single, publicly listed vehicle.

The fund primarily invests in a broad mix of preferred stocks, convertible securities and high-yield corporate bonds.