MFS Charter Income Trust (NYSE:MCR) Shares Pass Above 50-Day Moving Average – Here’s What Happened

MFS Charter Income Trust (NYSE:MCR) shares passed 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 trading hands.

MFS Charter Income Trust Stock Performance

The stock’s 50-day moving average is $6.29 and its 200-day moving average is $6.35.

MFS Charter Income Trust Cuts Dividend

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

Hedge Funds Weigh In On MFS Charter Income Trust

Several large investors have recently added to or reduced their stakes in MCR. Shaker Financial Services LLC raised its stake in shares of MFS Charter Income Trust by 8.6% in the 2nd quarter. Shaker Financial Services LLC now owns 341,354 shares of the financial services provider’s stock valued at $2,171,000 after buying an additional 27,153 shares in the last quarter. International Assets Investment Management LLC acquired a new position in MFS Charter Income Trust in the second quarter worth about $74,000. CoreCap Advisors LLC lifted its stake in MFS Charter Income Trust by 7.4% during the fourth quarter. CoreCap Advisors LLC now owns 45,225 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 3,100 shares during the period. Riverbridge Partners LLC lifted its stake in MFS Charter Income Trust by 89.9% during the fourth quarter. Riverbridge Partners LLC now owns 193,336 shares of the financial services provider’s stock worth $1,212,000 after purchasing an additional 91,541 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in MFS Charter Income Trust during the third quarter valued at approximately $117,000.

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.