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MFS Charter Income Trust V.MCR


Primary Symbol: MCR

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 also considers capital appreciation. The Fund primarily invests in debt instruments. The Fund also invests in corporate bonds of the United States and/or foreign issuers, United States government securities, foreign government securities, mortgage-backed securities and other securitized instruments of United States and/or foreign issuers, and/or debt instruments of issuers located in emerging market countries. It invests in a range of fixed income sectors, such as high yield corporates, emerging markets bonds, investment grade corporates, Non- United States government bonds, commercial mortgage-backed securities, mortgage-backed securities, collateralized debt obligations, municipal bonds, asset-backed securities and United States treasury securities. The Fund's investment advisor is Massachusetts Financial Services Company.


NYSE:MCR - Post by User

Post by Jvdb90on Aug 23, 2019 4:52am
181 Views
Post# 30057997

Stock ownership

Stock ownershipI've had a look on Bloomberg today and found a few things I thought might be worth sharing. Mike Nielsen, Senior VP Macro, has increased his ownership by 75.000 share as of July 3rd. In addition, Fedderly Robert acquired 13.000 shares as of May 30rd. I take it the latter is due to him becoming a member of the board of directors. The institutional ownership now lies at 0.58% of outstanding shares. These are held by two institutions. UBS AG holds around 95.100 shares in its UBS Irl Investor Selection Global Equity Long Short Fund. It has hold on to those shares for a long time. Back in 2015 they were also invested in Macro for a similar number of shares. The second ''institutional owner'' is Interflight Holdings Ltd that holds 83.000 shares as of April 23rd. Interestingly though, Interflight only holds one stock which is Macro. A little digging showed me that this is owned by Mike Nielsen. So I take it he also purchased shares of Macro via his holding. To put the institutional ownership in perspective. Although it is currently at 0.58% (including Mike's holding) in August 2015 this was around 13.9%. Which is a large increase vs August 2014 when it was approx. 4.2% and 1.6% in August 2013. The owners back in August 2015 were: Clarington Capital Management, Sprott Inc, 1832 Asset Management LP, Canadian Imperial Bank of Commerce, PI Financial Corp, Blackrock Inc, Voya Investment Management LLC, Toronto Dominion Bank and PenderFund Capital Management Ltd. It would be interesting to know if any of these institutions attended the corporate presentation at end of July and/or are attending the next corporate presentation next week. Either way, considering how low the institutional ownership is now, and how it increased from 2013-2015, I'd say it probably be a good one to two years before we get to the same level. Especially considering how relatively low the liquidity of this stock is. Would be interesting to note how much volume is traded today and whole of next week following strong Q2 results.
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