MFS Charter Income Trust (NYSE:MCR) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

MFS Charter Income Trust (NYSE:MCR) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.10 and traded as low as $5.92. MFS Charter Income Trust shares last traded at $5.9390, with a volume of 75,078 shares trading hands.

MFS Charter Income Trust Stock Down 0.0%

The company has a 50 day moving average of $5.96 and a two-hundred day moving average of $6.10.

MFS Charter Income Trust Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.0437 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%.

Institutional Trading of MFS Charter Income Trust

A number of hedge funds have recently made changes to their positions in the stock. Sit Investment Associates Inc. increased its position 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 valued at $25,037,000 after acquiring an additional 557,205 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in MFS Charter Income Trust by 6.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,362,242 shares of the financial services provider’s stock worth $8,255,000 after buying an additional 87,191 shares during the last quarter. Invesco Ltd. lifted its stake in MFS Charter Income Trust by 1.4% during the 3rd quarter. Invesco Ltd. now owns 524,967 shares of the financial services provider’s stock valued at $3,370,000 after acquiring an additional 7,093 shares during the period. Pathstone Holdings LLC lifted its stake in MFS Charter Income Trust by 15.0% during the 3rd quarter. Pathstone Holdings LLC now owns 441,296 shares of the financial services provider’s stock valued at $2,833,000 after acquiring an additional 57,658 shares during the period. Finally, Shaker Financial Services LLC raised its holdings in shares of MFS Charter Income Trust by 6.5% during the fourth quarter. Shaker Financial Services LLC now owns 400,838 shares of the financial services provider’s stock valued at $2,513,000 after purchasing an additional 24,526 shares during 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.