MFS Charter Income Trust (NYSE:MCR) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

MFS Charter Income Trust (NYSE:MCR) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.35 and traded as high as $6.35. MFS Charter Income Trust shares last traded at $6.35, with a volume of 36,348 shares trading hands.

MFS Charter Income Trust Stock Up 1.0%

The business’s fifty day simple moving average is $6.35 and its 200-day simple moving average is $6.35.

MFS Charter Income Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, November 28th. Stockholders of record on Tuesday, November 18th were given a dividend of $0.0451 per share. The ex-dividend date was Tuesday, November 18th. This represents a c) dividend on an annualized basis and a dividend yield of 8.5%.

Hedge Funds Weigh In On MFS Charter Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCR. Geneos Wealth Management Inc. bought a new stake in MFS Charter Income Trust in the 1st quarter worth approximately $34,000. B. Riley Wealth Advisors Inc. bought a new stake in MFS Charter Income Trust in the second quarter worth $70,000. International Assets Investment Management LLC purchased a new stake in MFS Charter Income Trust during the second quarter valued at $74,000. Susquehanna International Group LLP bought a new position in MFS Charter Income Trust during the third quarter valued at $117,000. Finally, Ethos Financial Group LLC bought a new position in MFS Charter Income Trust during the first quarter valued at $154,000.

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.