Barings Corporate Investors (NYSE:MCI) Shares Pass Below 50-Day Moving Average – Here’s What Happened

Barings Corporate Investors (NYSE:MCI)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $20.21 and traded as low as $18.51. Barings Corporate Investors shares last traded at $18.5550, with a volume of 36,240 shares traded.

Barings Corporate Investors Stock Performance

The firm’s 50-day moving average is $20.21 and its 200-day moving average is $20.73.

Barings Corporate Investors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Tuesday, December 30th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.6%.

Institutional Investors Weigh In On Barings Corporate Investors

Several hedge funds have recently made changes to their positions in MCI. Smith Asset Management Co. LLC bought a new stake in shares of Barings Corporate Investors during the 1st quarter valued at $5,088,000. QTR Family Wealth LLC purchased a new position in Barings Corporate Investors during the 3rd quarter valued at about $747,000. BHK Investment Advisors LLC lifted its position in Barings Corporate Investors by 9.2% during the 2nd quarter. BHK Investment Advisors LLC now owns 362,189 shares of the financial services provider’s stock valued at $7,845,000 after acquiring an additional 30,439 shares during the period. Farther Finance Advisors LLC bought a new stake in Barings Corporate Investors during the second quarter worth about $451,000. Finally, Jones Financial Companies Lllp grew its holdings in Barings Corporate Investors by 703.5% in the first quarter. Jones Financial Companies Lllp now owns 22,217 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 19,452 shares during the period.

About Barings Corporate Investors

Barings Corporate Investors (NYSE: MCI) is a closed-end management investment company that seeks to provide investors with high current income and capital preservation. The fund primarily invests in a diversified portfolio of corporate debt securities and loans, focusing on investment-grade and below investment-grade credit issued by U.S. and international companies.

The fund’s investment strategy centers on identifying opportunities across the corporate credit spectrum, including senior secured loans, high-yield bonds, and other fixed-income instruments.