MFS Charter Income Trust (NYSE:MCR) Shares Pass Above 50-Day Moving Average – Here’s What Happened

MFS Charter Income Trust (NYSE:MCR)’s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $6.05 and traded as high as $6.09. MFS Charter Income Trust shares last traded at $6.08, with a volume of 67,195 shares traded.

MFS Charter Income Trust Trading Up 0.3%

The company has a 50-day moving average price of $6.05 and a 200-day moving average price of $6.21.

MFS Charter Income Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be issued a dividend of $0.044 per share. This is a boost from MFS Charter Income Trust’s previous monthly dividend of $0.04. The ex-dividend date is Tuesday, May 19th. This represents a c) annualized dividend and a dividend yield of 8.7%.

Hedge Funds Weigh In On MFS Charter Income Trust

Institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. bought a new position in shares of MFS Charter Income Trust during the 1st quarter valued at about $34,000. B. Riley Wealth Advisors Inc. bought a new position in shares of MFS Charter Income Trust during the 2nd quarter valued at about $70,000. Landscape Capital Management L.L.C. bought a new position in shares of MFS Charter Income Trust during the 4th quarter valued at about $73,000. Millennium Management LLC bought a new position in shares of MFS Charter Income Trust during the 4th quarter valued at about $76,000. Finally, Evolve Private Wealth LLC bought a new position in shares of MFS Charter Income Trust during the 1st quarter valued at about $79,000.

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.