MFS Charter Income Trust (NYSE:MCR) Stock Passes Below 50 Day Moving Average – What’s Next?

MFS Charter Income Trust (NYSE:MCR) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.26 and traded as low as $6.07. MFS Charter Income Trust shares last traded at $6.1250, with a volume of 132,283 shares.

MFS Charter Income Trust Stock Up 0.4%

The business’s 50 day moving average is $6.26 and its two-hundred day moving average is $6.33.

MFS Charter Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.045 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date is Tuesday, March 17th.

Institutional Trading of MFS Charter Income Trust

A number of institutional investors have recently added to or reduced their stakes in MCR. Geneos Wealth Management Inc. bought a new position in MFS Charter Income Trust in the 1st quarter worth about $34,000. Invesco Ltd. increased its position in shares of MFS Charter Income Trust by 0.8% during the second quarter. Invesco Ltd. now owns 517,874 shares of the financial services provider’s stock valued at $3,294,000 after buying an additional 4,047 shares during the period. Bank of America Corp DE increased its position in shares of MFS Charter Income Trust by 0.6% during 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 buying an additional 2,034 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of MFS Charter Income Trust in the second quarter worth about $70,000. Finally, Osaic Holdings Inc. boosted its position in shares of MFS Charter Income Trust by 37.6% in the second quarter. Osaic Holdings Inc. now owns 71,077 shares of the financial services provider’s stock valued at $452,000 after acquiring an additional 19,412 shares during the period.

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.