MFS Charter Income Trust (NYSE:MCR) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of MFS Charter Income Trust (NYSE:MCR) 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.

MFS Charter Income Trust Price Performance

The company has a fifty day simple moving average of $6.29 and a two-hundred day simple moving average of $6.34.

MFS Charter Income Trust Increases Dividend

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

Institutional Investors Weigh In On MFS Charter Income Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in MFS Charter Income Trust by 0.6% during the second quarter. Bank of America Corp DE now owns 334,847 shares of the financial services provider’s stock worth $2,130,000 after buying an additional 2,034 shares in the last quarter. Riverbridge Partners LLC increased its position in MFS Charter Income Trust by 2.3% during the 3rd quarter. Riverbridge Partners LLC now owns 101,795 shares of the financial services provider’s stock worth $654,000 after purchasing an additional 2,280 shares in the last quarter. CoreCap Advisors LLC raised its stake in MFS Charter Income Trust by 7.4% in the 4th quarter. CoreCap Advisors LLC now owns 45,225 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 3,100 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in MFS Charter Income Trust by 3.5% in the 3rd quarter. NewEdge Advisors LLC now owns 116,540 shares of the financial services provider’s stock valued at $748,000 after purchasing an additional 3,945 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of MFS Charter Income Trust by 0.8% during the 2nd quarter. Invesco Ltd. now owns 517,874 shares of the financial services provider’s stock worth $3,294,000 after purchasing an additional 4,047 shares during 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.