MFS Charter Income Trust (NYSE:MCR) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Shares of MFS Charter Income Trust (NYSE:MCR) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.11 and traded as low as $5.92. MFS Charter Income Trust shares last traded at $5.9390, with a volume of 75,078 shares changing hands.

MFS Charter Income Trust Price Performance

The stock has a 50 day moving average price of $5.97 and a two-hundred day moving average price of $6.11.

MFS Charter Income Trust Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.0437 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date was Monday, June 8th.

Institutional Investors Weigh In On MFS Charter Income Trust

Several hedge funds have recently bought and sold shares of MCR. Bank of America Corp DE lifted its holdings in shares of MFS Charter Income Trust by 0.6% in the second quarter. Bank of America Corp DE now owns 334,847 shares of the financial services provider’s stock valued at $2,130,000 after purchasing an additional 2,034 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of 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 buying an additional 3,100 shares in the last quarter. NewEdge Advisors LLC raised its position in MFS Charter Income Trust by 3.5% in the 3rd quarter. NewEdge Advisors LLC now owns 116,540 shares of the financial services provider’s stock valued at $748,000 after buying an additional 3,945 shares during the last quarter. Invesco Ltd. lifted its stake in MFS Charter Income Trust by 0.8% in the 2nd quarter. Invesco Ltd. now owns 517,874 shares of the financial services provider’s stock valued at $3,294,000 after acquiring an additional 4,047 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new position in MFS Charter Income Trust during the 1st quarter worth approximately $34,000.

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.