MFS Charter Income Trust (NYSE:MCR) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

MFS Charter Income Trust (NYSE:MCR)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-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 0.1%

The company’s fifty day moving average price is $6.01 and its two-hundred day moving average price is $6.19.

MFS Charter Income Trust Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MCR. Geneos Wealth Management Inc. acquired a new position in MFS Charter Income Trust during the first quarter worth $34,000. B. Riley Wealth Advisors Inc. acquired a new stake in MFS Charter Income Trust in the second quarter valued at $70,000. Landscape Capital Management L.L.C. acquired a new stake in MFS Charter Income Trust in the fourth quarter valued at $73,000. Millennium Management LLC acquired a new stake in MFS Charter Income Trust in the fourth quarter valued at $76,000. Finally, Evolve Private Wealth LLC acquired a new stake in MFS Charter Income Trust in the first quarter valued at $79,000.

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.