MFS Charter Income Trust (NYSE:MCR) Sees Significant Drop in Short Interest

MFS Charter Income Trust (NYSE:MCR) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 81,300 shares, a drop of 18.9% from the February 28th total of 100,200 shares. Based on an average trading volume of 83,800 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Stonebridge Financial Planning Group LLC lifted its holdings in MFS Charter Income Trust by 8.5% in the fourth quarter. Stonebridge Financial Planning Group LLC now owns 52,933 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 4,142 shares during the last quarter. Waverly Advisors LLC acquired a new position in MFS Charter Income Trust during the 4th quarter valued at approximately $251,000. Citadel Advisors LLC bought a new position in MFS Charter Income Trust during the 4th quarter worth $82,000. Bank of America Corp DE increased its position in MFS Charter Income Trust by 3.7% in the fourth quarter. Bank of America Corp DE now owns 291,727 shares of the financial services provider’s stock worth $1,861,000 after buying an additional 10,417 shares during the period. Finally, Anderson Financial Strategies LLC bought a new stake in MFS Charter Income Trust in the fourth quarter valued at $215,000.

MFS Charter Income Trust Price Performance

MCR stock opened at $6.32 on Thursday. The stock’s 50 day simple moving average is $6.35 and its 200 day simple moving average is $6.35. MFS Charter Income Trust has a 12-month low of $6.01 and a 12-month high of $6.58.

MFS Charter Income Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a $0.0448 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 8.50%.

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.