MFS Charter Income Trust (NYSE:MCR) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

MFS Charter Income Trust (NYSE:MCR)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.29 and traded as high as $6.33. MFS Charter Income Trust shares last traded at $6.31, with a volume of 33,332 shares traded.

MFS Charter Income Trust Trading Up 0.3%

The stock has a fifty day moving average of $6.29 and a 200-day moving average of $6.34.

MFS Charter Income Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.045 per share. This represents a c) annualized dividend and a dividend yield of 8.5%. This is a boost from MFS Charter Income Trust’s previous monthly dividend of $0.04. The ex-dividend date is Tuesday, February 17th.

Hedge Funds Weigh In On MFS Charter Income Trust

Several institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new stake in shares of MFS Charter Income Trust in the first quarter valued at about $34,000. B. Riley Wealth Advisors Inc. purchased a new stake in MFS Charter Income Trust in the 2nd quarter valued at approximately $70,000. International Assets Investment Management LLC acquired a new position in MFS Charter Income Trust during the 2nd quarter worth approximately $74,000. Wolverine Asset Management LLC purchased a new position in shares of MFS Charter Income Trust during the 4th quarter worth approximately $100,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of MFS Charter Income Trust in the 3rd quarter valued at approximately $117,000.

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.