In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Mfs Charter Income Trust (NYSE:MCR) reported that Relative Value Partners Group, Llc. has picked up 4,136,593 of common stock as of 2017-05-09.
The acquisition brings the aggregate amount owned by Relative Value Partners Group, Llc. to a total of 4,136,593 representing less than 8.79% stake in the company.
For those not familiar with the company, MFS Charter Income Trust (Fund) is a diversified closed-end management investment company. The Fund’s investment objective is to seek high current income, but may also consider capital appreciation. The Fund normally invests in debt instruments. The Fund also invests in corporate bonds of the United States and/or foreign issuers, the United States Government securities, foreign government securities, mortgage-backed and other asset-backed securities and/or debt instruments of issuers located in emerging market countries. The Fund’s portfolio comprises bonds, floating rate loans, equities, cash and cash equivalent and other. It invests in a range of Fixed income sectors, such as high yield corporates non-united states government bonds, investment grade corporates, emerging markets bonds, commercial mortgage-backed securities, asset-backed securities and collateralized debt obligations. Massachusetts Financial Services Company is the Fund’s investment advisor.
A glance at Mfs Charter Income Trust (NYSE:MCR)’s key stats reveals a current market capitalization of 463.26 Million based on 54.89 Million shares outstanding and a price at last close of $8.66 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-02-27, Uek picked up 1,477 at a purchase price of $8.57. This brings their total holding to 0 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Mfs Charter Income Trust (NYSE:MCR) as things move forward to see if its progress aligns with these transactions.
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