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

MFS Charter Income Trust (NYSE:MCR) was the target 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 days-to-cover ratio is presently 0.1 days.

MFS Charter Income Trust Trading Down 1.3%

Shares of NYSE MCR traded down $0.08 during trading hours on Tuesday, hitting $5.88. The stock had a trading volume of 7,935 shares, compared to its average volume of 83,299. The firm’s 50-day moving average price is $6.04 and its two-hundred day moving average price 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 firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th will be given a $0.044 dividend. 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 9.0%. The ex-dividend date of this dividend is Tuesday, May 19th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Riverbridge Partners LLC boosted its holdings in MFS Charter Income Trust by 89.9% in the fourth quarter. Riverbridge Partners LLC now owns 193,336 shares of the financial services provider’s stock worth $1,212,000 after purchasing an additional 91,541 shares in the last quarter. Millennium Management LLC bought a new position in MFS Charter Income Trust during the fourth quarter valued at about $76,000. Landscape Capital Management L.L.C. acquired a new stake in shares of MFS Charter Income Trust in the fourth quarter worth about $73,000. Waverly Advisors LLC lifted its position in shares of MFS Charter Income Trust by 28.9% in the first quarter. Waverly Advisors LLC now owns 46,809 shares of the financial services provider’s stock worth $284,000 after buying an additional 10,501 shares during the last quarter. Finally, Ashton Thomas Securities LLC boosted its stake in shares of MFS Charter Income Trust by 9.0% during the 1st quarter. Ashton Thomas Securities LLC now owns 96,650 shares of the financial services provider’s stock worth $586,000 after acquiring an additional 8,000 shares in the last quarter.

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.