MFS Charter Income Trust (NYSE:MCR) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of MFS Charter Income Trust (NYSE:MCR) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $6.33 and traded as high as $6.47. MFS Charter Income Trust shares last traded at $6.45, with a volume of 130,996 shares changing hands.

MFS Charter Income Trust Price Performance

The company’s 50-day simple moving average is $6.33 and its two-hundred day simple moving average is $6.36.

MFS Charter Income Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.0449 per share. This represents a $0.54 annualized dividend and a yield of 8.35%. The ex-dividend date is Tuesday, February 18th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Larson Financial Group LLC grew its position in shares of MFS Charter Income Trust by 233.2% during the third quarter. Larson Financial Group LLC now owns 6,330 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 4,430 shares in the last quarter. Melfa Wealth Management Inc. bought a new position in shares of MFS Charter Income Trust during the fourth quarter worth $129,000. Valley Brook Capital Group Inc. lifted its stake in MFS Charter Income Trust by 15.8% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 25,922 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 3,543 shares in the last quarter. L.M. Kohn & Company boosted its holdings in shares of MFS Charter Income Trust by 27.6% during the 3rd quarter. L.M. Kohn & Company now owns 38,215 shares of the financial services provider’s stock valued at $251,000 after purchasing an additional 8,261 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of MFS Charter Income Trust during the fourth quarter valued at about $265,000.

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.