MFS Charter Income Trust (NYSE:MCR) Shares Pass Below 200-Day Moving Average – Should You Sell?

MFS Charter Income Trust (NYSE:MCR) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.10 and traded as low as $5.92. MFS Charter Income Trust shares last traded at $5.9390, with a volume of 75,078 shares changing hands.

MFS Charter Income Trust Trading Down 0.0%

The firm has a fifty day moving average of $5.96 and a two-hundred day moving average of $6.10.

MFS Charter Income Trust Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a $0.0437 dividend. This represents a c) dividend on an annualized basis and a yield of 8.8%. The ex-dividend date of this dividend was Monday, June 8th.

Hedge Funds Weigh In On MFS Charter Income Trust

Several hedge funds and other institutional investors have recently modified their holdings of MCR. Geneos Wealth Management Inc. bought a new stake in MFS Charter Income Trust in the first quarter valued at $34,000. Invesco Ltd. raised its holdings in MFS Charter Income Trust by 0.8% in 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 in the last quarter. Bank of America Corp DE raised its holdings in MFS Charter Income Trust by 0.6% in the 2nd quarter. Bank of America Corp DE now owns 334,847 shares of the financial services provider’s stock worth $2,130,000 after purchasing an additional 2,034 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of MFS Charter Income Trust in the 2nd quarter worth about $70,000. Finally, Osaic Holdings Inc. lifted its position in shares of MFS Charter Income Trust by 37.6% in the 2nd quarter. Osaic Holdings Inc. now owns 71,077 shares of the financial services provider’s stock worth $452,000 after purchasing an additional 19,412 shares during the period.

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.