MFS Charter Income Trust (NYSE:MCR) Shares Pass Above Fifty Day Moving Average – Time to Sell?

MFS Charter Income Trust (NYSE:MCR)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.30 and traded as high as $6.33. MFS Charter Income Trust shares last traded at $6.3150, with a volume of 73,164 shares trading hands.

MFS Charter Income Trust Price Performance

The firm has a 50-day moving average price of $6.30 and a 200-day moving average price of $6.35.

MFS Charter Income Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, January 20th will be issued a $0.0448 dividend. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a c) annualized dividend and a yield of 8.5%.

Institutional Investors Weigh In On MFS Charter Income Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new position in MFS Charter Income Trust in the 1st quarter worth approximately $34,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of MFS Charter Income Trust in the 2nd quarter worth $70,000. International Assets Investment Management LLC bought a new stake in shares of MFS Charter Income Trust in the 2nd quarter worth $74,000. Susquehanna International Group LLP purchased a new position in shares of MFS Charter Income Trust in the third quarter worth $117,000. Finally, Benjamin Edwards Inc. bought a new position in shares of MFS Charter Income Trust during the third quarter valued at $230,000.

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.