MFS Charter Income Trust (NYSE:MCR) Stock Passes Above 50 Day Moving Average – Time to Sell?

MFS Charter Income Trust (NYSE:MCR) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.30 and traded as high as $6.40. MFS Charter Income Trust shares last traded at $6.38, with a volume of 565,296 shares traded.

MFS Charter Income Trust Stock Down 0.6 %

The company has a 50-day simple moving average of $6.30 and a two-hundred day simple moving average of $6.35.

MFS Charter Income Trust Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a $0.0455 dividend. The ex-dividend date was Tuesday, December 17th.

Institutional Trading of MFS Charter Income Trust

Several hedge funds have recently added to or reduced their stakes in MCR. Larson Financial Group LLC boosted its position in shares of MFS Charter Income Trust by 233.2% during the 3rd quarter. Larson Financial Group LLC now owns 6,330 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 4,430 shares in the last quarter. Valley Brook Capital Group Inc. boosted its stake in shares of MFS Charter Income Trust by 15.8% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 25,922 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 3,543 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of MFS Charter Income Trust by 107.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 38,347 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 19,861 shares during the last quarter. L.M. Kohn & Company raised its position in shares of MFS Charter Income Trust by 27.6% during the third quarter. L.M. Kohn & Company now owns 38,215 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 8,261 shares during the period. Finally, Ashton Thomas Securities LLC lifted its holdings in shares of MFS Charter Income Trust by 7.2% during the third quarter. Ashton Thomas Securities LLC now owns 44,750 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 3,000 shares during the last quarter.

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.