MFS Charter Income Trust (NYSE:MCR) Stock Price Passes Below 200-Day Moving Average – Here’s Why

MFS Charter Income Trust (NYSE:MCR) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.17 and traded as low as $5.94. MFS Charter Income Trust shares last traded at $5.97, with a volume of 100,147 shares changing hands.

MFS Charter Income Trust Trading Down 0.6%

The firm’s 50-day moving average price is $6.00 and its 200-day moving average price is $6.17.

MFS Charter Income Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.0437 dividend. The ex-dividend date is Monday, June 8th. This represents a c) dividend on an annualized basis and a yield of 8.9%.

Institutional Trading of MFS Charter Income Trust

Institutional investors have recently bought and sold shares of the stock. Riverbridge Partners LLC lifted its position in MFS Charter Income Trust by 89.9% in the fourth quarter. Riverbridge Partners LLC now owns 193,336 shares of the financial services provider’s stock worth $1,212,000 after buying an additional 91,541 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in MFS Charter Income Trust in the second quarter worth $70,000. Bank of America Corp DE raised its position in MFS Charter Income Trust by 2.9% in the 1st quarter. Bank of America Corp DE now owns 381,610 shares of the financial services provider’s stock worth $2,313,000 after purchasing an additional 10,869 shares during the period. Waverly Advisors LLC raised its position in MFS Charter Income Trust by 28.9% in the 1st quarter. Waverly Advisors LLC now owns 46,809 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 10,501 shares during the period. Finally, Kestra Advisory Services LLC raised its position in MFS Charter Income Trust by 26.7% in the 1st quarter. Kestra Advisory Services LLC now owns 128,467 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 27,091 shares during the period.

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.