MFS Charter Income Trust (NYSE:MCR) Stock Passes Below 200 Day Moving Average – Should You Sell?

MFS Charter Income Trust (NYSE:MCR)’s share price 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 Stock Performance

The stock has a 50-day simple moving average of $5.96 and a 200 day simple moving average of $6.09.

MFS Charter Income Trust Cuts Dividend

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

Institutional Investors Weigh In On MFS Charter Income Trust

Large investors have recently bought and sold shares of the company. Sit Investment Associates Inc. raised its holdings in shares of MFS Charter Income Trust by 16.2% during 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 lifted its position in MFS Charter Income Trust by 89.9% during the fourth quarter. Riverbridge Partners LLC now owns 193,336 shares of the financial services provider’s stock valued at $1,212,000 after purchasing an additional 91,541 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in 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 valued at $8,255,000 after purchasing an additional 87,191 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in 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 valued at $779,000 after purchasing an additional 27,091 shares during the last quarter. Finally, Evolve Private Wealth LLC acquired a new stake in MFS Charter Income Trust during the 1st quarter worth about $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.