MFS Charter Income Trust (NYSE:MCR) Sees Significant Increase in Short Interest

MFS Charter Income Trust (NYSE:MCR) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 15,802 shares, a growth of 63.7% from the May 14th total of 9,651 shares. Based on an average trading volume of 81,378 shares, the short-interest ratio is currently 0.2 days.

MFS Charter Income Trust Trading Up 0.2%

Shares of NYSE MCR opened at $6.02 on Tuesday. MFS Charter Income Trust has a one year low of $5.84 and a one year high of $6.58. The firm’s 50 day simple moving average is $6.00 and its two-hundred day simple moving average is $6.15.

MFS Charter Income Trust Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a $0.0437 dividend. The ex-dividend date was Monday, June 8th. This represents a c) annualized dividend and a dividend yield of 8.7%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sit Investment Associates Inc. grew its holdings in shares of MFS Charter Income Trust by 16.2% in the fourth quarter. Sit Investment Associates Inc. now owns 3,993,082 shares of the financial services provider’s stock worth $25,037,000 after purchasing an additional 557,205 shares during the last quarter. Riverbridge Partners LLC grew its holdings in shares of 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 during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of MFS Charter Income Trust by 6.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,362,242 shares of the financial services provider’s stock worth $8,255,000 after purchasing an additional 87,191 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of MFS Charter Income Trust by 26.7% in the first quarter. Kestra Advisory Services LLC now owns 128,467 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 27,091 shares during the last quarter. Finally, Evolve Private Wealth LLC bought a new position in shares of MFS Charter Income Trust in the first quarter worth approximately $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.