MFS Charter Income Trust (NYSE:MCR) Shares Pass Below 200 Day Moving Average – What’s Next?

MFS Charter Income Trust (NYSE:MCR)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.36 and traded as low as $6.24. MFS Charter Income Trust shares last traded at $6.26, with a volume of 83,052 shares trading hands.

MFS Charter Income Trust Stock Performance

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

MFS Charter Income Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $0.0452 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from MFS Charter Income Trust’s previous monthly dividend of $0.04. This represents a $0.54 dividend on an annualized basis and a dividend yield of 8.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MCR. Stifel Financial Corp lifted its position in shares of MFS Charter Income Trust by 13.5% during the third quarter. Stifel Financial Corp now owns 179,664 shares of the financial services provider’s stock valued at $1,180,000 after buying an additional 21,350 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of MFS Charter Income Trust by 7.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,773,447 shares of the financial services provider’s stock worth $11,315,000 after purchasing an additional 122,018 shares during the period. Strategic Financial Concepts LLC acquired a new stake in MFS Charter Income Trust in the 4th quarter valued at $265,000. Larson Financial Group LLC grew its stake in MFS Charter Income Trust by 233.2% in the 3rd quarter. Larson Financial Group LLC now owns 6,330 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 4,430 shares during the period. Finally, Riverbridge Partners LLC grew its stake in MFS Charter Income Trust by 124.5% in the 4th quarter. Riverbridge Partners LLC now owns 86,396 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 47,909 shares during the period.

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.