MFS Charter Income Trust (NYSE:MCR) Share Price Passes Above 50 Day Moving Average – Here’s Why

MFS Charter Income Trust (NYSE:MCR)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.29 and traded as high as $6.31. MFS Charter Income Trust shares last traded at $6.27, with a volume of 135,890 shares.

MFS Charter Income Trust Trading Up 0.2%

The stock has a fifty day moving average of $6.29 and a two-hundred day moving average of $6.35.

MFS Charter Income Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, January 20th will be given a $0.0448 dividend. This represents a c) annualized dividend and a yield of 8.6%. The ex-dividend date is Tuesday, January 20th.

Institutional Trading of MFS Charter Income Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its position in MFS Charter Income Trust by 1.4% in the 3rd quarter. Invesco Ltd. now owns 524,967 shares of the financial services provider’s stock worth $3,370,000 after purchasing an additional 7,093 shares during the last quarter. GraniteShares Advisors LLC raised its position in shares of MFS Charter Income Trust by 9.7% during the third quarter. GraniteShares Advisors LLC now owns 480,950 shares of the financial services provider’s stock worth $3,088,000 after acquiring an additional 42,364 shares during the last quarter. Pathstone Holdings LLC lifted its stake in shares of MFS Charter Income Trust by 15.0% during the third quarter. Pathstone Holdings LLC now owns 441,296 shares of the financial services provider’s stock valued at $2,833,000 after acquiring an additional 57,658 shares during the period. Shaker Financial Services LLC boosted its holdings in MFS Charter Income Trust by 6.5% in the fourth quarter. Shaker Financial Services LLC now owns 400,838 shares of the financial services provider’s stock valued at $2,513,000 after acquiring an additional 24,526 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in MFS Charter Income Trust by 7.7% in the third quarter. Bank of America Corp DE now owns 360,634 shares of the financial services provider’s stock valued at $2,315,000 after acquiring an additional 25,787 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.