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

MFS Charter Income Trust (NYSE:MCR)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $6.40 and traded as high as $6.40. MFS Charter Income Trust shares last traded at $6.3950, with a volume of 20,337 shares trading hands.

MFS Charter Income Trust Stock Up 0.1%

The firm has a fifty day simple moving average of $6.40 and a two-hundred day simple moving average of $6.34.

MFS Charter Income Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 28th. Investors of record on Tuesday, November 18th will be paid a $0.0451 dividend. The ex-dividend date is Tuesday, November 18th. This represents a c) dividend on an annualized basis and a yield of 8.5%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Riverbridge Partners LLC lifted its stake in shares of MFS Charter Income Trust by 3.7% during the second quarter. Riverbridge Partners LLC now owns 99,515 shares of the financial services provider’s stock worth $633,000 after buying an additional 3,586 shares during the period. GraniteShares Advisors LLC increased its position in shares of MFS Charter Income Trust by 6.7% in the 2nd quarter. GraniteShares Advisors LLC now owns 438,586 shares of the financial services provider’s stock valued at $2,789,000 after acquiring an additional 27,412 shares during the period. Sit Investment Associates Inc. raised its stake in MFS Charter Income Trust by 17.8% in the 1st quarter. Sit Investment Associates Inc. now owns 2,451,127 shares of the financial services provider’s stock worth $15,369,000 after acquiring an additional 370,040 shares during the last quarter. Ethos Financial Group LLC acquired a new stake in MFS Charter Income Trust during the 1st quarter worth about $154,000. Finally, Shaker Financial Services LLC lifted its position in MFS Charter Income Trust by 8.6% during the 2nd quarter. Shaker Financial Services LLC now owns 341,354 shares of the financial services provider’s stock worth $2,171,000 after acquiring an additional 27,153 shares during the period.

MFS Charter Income Trust Company Profile

MFS Charter Income Trust is a closed ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in the fixed income markets across the globe. It invests primarily in corporate bonds of U.S. or foreign issuers, U.S. Government securities, foreign government securities, mortgage-backed, and other asset-backed securities of U.S.