MFS Charter Income Trust (NYSE:MCR) Shares Cross Above 50 Day Moving Average – Time to Sell?

MFS Charter Income Trust (NYSE:MCR) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.32 and traded as high as $6.33. MFS Charter Income Trust shares last traded at $6.32, with a volume of 44,555 shares changing hands.

MFS Charter Income Trust Stock Performance

The stock’s 50 day moving average is $6.32 and its 200 day moving average is $6.35.

MFS Charter Income Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $0.0449 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date of this dividend is Tuesday, December 16th.

Institutional Trading of MFS Charter Income Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its stake in MFS Charter Income Trust by 3.5% in the 3rd quarter. NewEdge Advisors LLC now owns 116,540 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 3,945 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of MFS Charter Income Trust in the third quarter worth about $117,000. Bank of America Corp DE boosted its position in shares of MFS Charter Income Trust by 7.7% in the third quarter. Bank of America Corp DE now owns 360,634 shares of the financial services provider’s stock valued at $2,315,000 after acquiring an additional 25,787 shares during the period. Pathstone Holdings LLC boosted its position in shares of MFS Charter Income Trust by 15.0% in the third 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, Invesco Ltd. grew its stake in MFS Charter Income Trust by 1.4% during the third 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 in 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.