Barings Corporate Investors (NYSE:MCI) Shares Cross Above 50 Day Moving Average - Here's What Happened

Key Points

• Barings Corporate Investors (NYSE:MCI) shares surpassed their 50-day moving average of $21.02, reaching a high of $21.49 before closing at $21.36 with a trading volume of 16,726 shares.
• The company announced a quarterly dividend of $0.40 per share, which will be paid on September 12, representing an annualized dividend yield of 7.5%.
• Several institutional investors have increased their holdings in Barings Corporate Investors, including Invesco Ltd., which grew its stake by 39.1% during the first quarter.

Barings Corporate Investors (NYSE:MCI - Get Free Report) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $21.02 and traded as high as $21.49. Barings Corporate Investors shares last traded at $21.36, with a volume of 16,726 shares traded.

Barings Corporate Investors Trading Up 0.2%

The business's fifty day moving average price is $21.08 and its 200-day moving average price is $20.89.

Barings Corporate Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.60 annualized dividend and a dividend yield of 7.3%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Graypoint LLC raised its stake in shares of Barings Corporate Investors by 2.4% during the first quarter. Graypoint LLC now owns 23,980 shares of the financial services provider's stock worth $562,000 after acquiring an additional 567 shares in the last quarter. Bank of America Corp DE increased its position in Barings Corporate Investors by 2.0% during the 2nd quarter. Bank of America Corp DE now owns 38,320 shares of the financial services provider's stock valued at $830,000 after purchasing an additional 735 shares during the period. Atria Wealth Solutions Inc. increased its position in Barings Corporate Investors by 1.5% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 61,418 shares of the financial services provider's stock valued at $1,330,000 after purchasing an additional 895 shares during the period. Envestnet Asset Management Inc. boosted its stake in Barings Corporate Investors by 4.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 26,504 shares of the financial services provider's stock worth $574,000 after purchasing an additional 1,069 shares in the last quarter. Finally, GHP Investment Advisors Inc. bought a new position in Barings Corporate Investors in the 1st quarter worth about $25,000.

Barings Corporate Investors Company Profile

Babson Capital Corporate Investors trust is a closed ended fixed income mutual fund launched and managed by Barings LLC. It invests in fixed income markets of the United States. The fund seeks to invest in securities of companies operating across diversified sectors. It primarily invests in a portfolio of privately placed, below-investment grade, long term corporate debt obligations.