MFS Charter Income Trust (NYSE:MCR) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

MFS Charter Income Trust (NYSE:MCR) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

MFS Charter Income Trust Stock Up 0.3%

The company has a 50 day moving average price of $6.01 and a 200-day moving average price of $6.18.

MFS Charter Income Trust Increases Dividend

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

Institutional Investors Weigh In On MFS Charter Income Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of MCR. Geneos Wealth Management Inc. bought a new stake in MFS Charter Income Trust during the 1st quarter worth $34,000. Invesco Ltd. lifted its holdings in MFS Charter Income Trust by 0.8% during the 2nd quarter. Invesco Ltd. now owns 517,874 shares of the financial services provider’s stock worth $3,294,000 after buying an additional 4,047 shares during the period. Bank of America Corp DE lifted its holdings in MFS Charter Income Trust by 0.6% during the 2nd quarter. Bank of America Corp DE now owns 334,847 shares of the financial services provider’s stock worth $2,130,000 after buying an additional 2,034 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in MFS Charter Income Trust during the 2nd quarter worth about $70,000. Finally, Osaic Holdings Inc. lifted its holdings in MFS Charter Income Trust by 37.6% during the 2nd quarter. Osaic Holdings Inc. now owns 71,077 shares of the financial services provider’s stock worth $452,000 after buying 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.