MFS Charter Income Trust (NYSE:MCR) Stock Passes Below 200-Day Moving Average – Time to Sell?

MFS Charter Income Trust (NYSE:MCR) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.34 and traded as low as $6.26. MFS Charter Income Trust shares last traded at $6.27, with a volume of 35,763 shares changing hands.

MFS Charter Income Trust Trading Down 0.2%

The stock’s 50-day simple moving average is $6.28 and its 200 day simple moving average is $6.34.

MFS Charter Income Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be paid a $0.045 dividend. This is an increase from MFS Charter Income Trust’s previous monthly dividend of $0.04. The ex-dividend date is Tuesday, February 17th. This represents a c) dividend on an annualized basis and a yield of 8.6%.

Institutional Investors Weigh In On MFS Charter Income Trust

Several hedge funds have recently bought and sold shares of MCR. Millennium Management LLC acquired a new position in shares of MFS Charter Income Trust in the fourth quarter valued at approximately $76,000. Royal Bank of Canada grew its holdings in MFS Charter Income Trust by 25.3% in the 4th quarter. Royal Bank of Canada now owns 34,186 shares of the financial services provider’s stock valued at $215,000 after buying an additional 6,903 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in MFS Charter Income Trust during the 4th quarter worth $73,000. Wells Fargo & Company MN increased its position in MFS Charter Income Trust by 49.4% during the 4th quarter. Wells Fargo & Company MN now owns 210,837 shares of the financial services provider’s stock worth $1,322,000 after buying an additional 69,758 shares during the period. Finally, Sit Investment Associates Inc. lifted its holdings in shares of MFS Charter Income Trust by 16.2% during the fourth quarter. Sit Investment Associates Inc. now owns 3,993,082 shares of the financial services provider’s stock worth $25,037,000 after buying an additional 557,205 shares in the last quarter.

MFS Charter Income Trust Company Profile

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.