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

Shares of MFS Charter Income Trust (NYSE:MCR) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $6.30 and traded as high as $6.33. MFS Charter Income Trust shares last traded at $6.3150, with a volume of 73,164 shares trading hands.

MFS Charter Income Trust Stock Up 0.2%

The firm’s fifty day moving average price is $6.30 and its 200-day moving average price is $6.35.

MFS Charter Income Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, January 20th will be given a $0.0448 dividend. The ex-dividend date is Tuesday, January 20th. This represents a c) dividend on an annualized basis and a dividend yield of 8.5%.

Institutional Trading of MFS Charter Income Trust

Institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. purchased a new position in MFS Charter Income Trust during the 1st quarter valued at about $34,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of MFS Charter Income Trust during the second quarter valued at approximately $70,000. International Assets Investment Management LLC bought a new position in shares of MFS Charter Income Trust during the second quarter valued at approximately $74,000. Susquehanna International Group LLP purchased a new stake in MFS Charter Income Trust in the third quarter worth $117,000. Finally, Benjamin Edwards Inc. bought a new stake in MFS Charter Income Trust in the third quarter valued at $230,000.

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.