MFS Charter Income Trust (NYSE:MCR) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

MFS Charter Income Trust (NYSE:MCR)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.19 and traded as low as $5.89. MFS Charter Income Trust shares last traded at $5.9350, with a volume of 75,159 shares trading hands.

MFS Charter Income Trust Price Performance

The stock’s 50-day simple moving average is $6.01 and its 200 day simple moving average is $6.19.

MFS Charter Income Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th will be given a $0.044 dividend. This represents a c) dividend on an annualized basis and a yield of 8.9%. This is a boost from MFS Charter Income Trust’s previous monthly dividend of $0.04. The ex-dividend date is Tuesday, May 19th.

Hedge Funds Weigh In On MFS Charter Income Trust

Large investors have recently modified their holdings of the stock. Bank of America Corp DE increased its stake in 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 increased its stake in MFS Charter Income Trust by 7.4% in the fourth quarter. CoreCap Advisors LLC now owns 45,225 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 3,100 shares in the last quarter. NewEdge Advisors LLC increased its stake in MFS Charter Income Trust by 3.5% in the third quarter. NewEdge Advisors LLC now owns 116,540 shares of the financial services provider’s stock valued at $748,000 after purchasing an additional 3,945 shares in the last quarter. Invesco Ltd. increased its stake in MFS Charter Income Trust by 0.8% in the second quarter. Invesco Ltd. now owns 517,874 shares of the financial services provider’s stock valued at $3,294,000 after purchasing an additional 4,047 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in MFS Charter Income Trust in the first quarter valued at 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.