MFS Charter Income Trust (NYSE:MCR) Sees Large Increase in Short Interest

MFS Charter Income Trust (NYSE:MCR) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totaling 7,626 shares, an increase of 75.8% from the April 15th total of 4,338 shares. Based on an average trading volume of 81,917 shares, the short-interest ratio is currently 0.1 days.

MFS Charter Income Trust Stock Performance

Shares of MCR stock traded up $0.04 during mid-day trading on Monday, hitting $5.98. The company’s stock had a trading volume of 35,210 shares, compared to its average volume of 83,931. The company’s fifty day simple moving average is $6.04 and its 200-day simple moving average is $6.20. MFS Charter Income Trust has a 52 week low of $5.84 and a 52 week high of $6.58.

MFS Charter Income Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th will be paid a $0.044 dividend. This represents a c) annualized dividend and a yield of 8.8%. This is an increase from MFS Charter Income Trust’s previous monthly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, May 19th.

Institutional Investors Weigh In On MFS Charter Income Trust

Several hedge funds and other institutional investors have recently bought and sold shares 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 $34,000.

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.