MFS Charter Income Trust (NYSE:MCR) Stock Passes Below 50 Day Moving Average – Should You Sell?

MFS Charter Income Trust (NYSE:MCR)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $6.41 and traded as low as $6.39. MFS Charter Income Trust shares last traded at $6.42, with a volume of 56,141 shares.

MFS Charter Income Trust Trading Up 0.7%

The stock’s fifty day moving average is $6.41 and its two-hundred day moving average is $6.30.

MFS Charter Income Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 14th will be given a $0.0453 dividend. This is a positive change from MFS Charter Income Trust’s previous monthly dividend of $0.04. The ex-dividend date is Tuesday, October 14th. This represents a c) dividend on an annualized basis and a dividend yield of 8.5%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MCR. Sit Investment Associates Inc. boosted its holdings in shares of MFS Charter Income Trust by 17.8% in the first quarter. Sit Investment Associates Inc. now owns 2,451,127 shares of the financial services provider’s stock worth $15,369,000 after buying an additional 370,040 shares during the period. GraniteShares Advisors LLC boosted its stake in 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 worth $2,789,000 after purchasing an additional 27,412 shares during the period. Shaker Financial Services LLC boosted its stake in MFS Charter Income Trust by 8.6% in the 2nd quarter. Shaker Financial Services LLC now owns 341,354 shares of the financial services provider’s stock worth $2,171,000 after purchasing an additional 27,153 shares during the period. Ethos Financial Group LLC acquired a new position in MFS Charter Income Trust in the 1st quarter worth approximately $154,000. Finally, Readystate Asset Management LP acquired a new position in MFS Charter Income Trust in the 1st quarter worth approximately $125,000.

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.