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

MFS Charter Income Trust (NYSE:MCR) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 81,300 shares, a decrease of 18.9% from the February 28th total of 100,200 shares. Based on an average daily volume of 83,800 shares, the days-to-cover ratio is presently 1.0 days.

MFS Charter Income Trust Price Performance

NYSE:MCR traded up $0.02 on Wednesday, reaching $6.32. The stock had a trading volume of 38,084 shares, compared to its average volume of 75,415. MFS Charter Income Trust has a 1-year low of $6.01 and a 1-year high of $6.58. The stock has a fifty day moving average price of $6.35 and a 200-day moving average price of $6.35.

MFS Charter Income Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a dividend of $0.0448 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.54 dividend on an annualized basis and a yield of 8.50%.

Hedge Funds Weigh In On MFS Charter Income Trust

Several institutional investors have recently bought and sold shares of MCR. Sit Investment Associates Inc. increased its stake in shares of MFS Charter Income Trust by 30.8% in the fourth quarter. Sit Investment Associates Inc. now owns 2,081,087 shares of the financial services provider’s stock valued at $13,277,000 after buying an additional 489,759 shares in the last quarter. GraniteShares Advisors LLC bought a new position in shares of MFS Charter Income Trust in the fourth quarter worth about $2,464,000. Allspring Global Investments Holdings LLC lifted its position in shares of MFS Charter Income Trust by 7.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,773,447 shares of the financial services provider’s stock worth $11,315,000 after purchasing an additional 122,018 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of MFS Charter Income Trust during the fourth quarter valued at approximately $776,000. Finally, Invesco Ltd. increased its holdings in shares of MFS Charter Income Trust by 10.4% in the fourth quarter. Invesco Ltd. now owns 567,652 shares of the financial services provider’s stock valued at $3,622,000 after purchasing an additional 53,369 shares in the last quarter.

About MFS Charter Income Trust

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.