Short Interest in Barings Corporate Investors (NYSE:MCI) Grows By 231.8%

Key Points

• Barings Corporate Investors (NYSE:MCI) experienced a significant increase in short interest, rising by 231.8% in August, with a total of 21,900 shares shorted as of August 31st.
• The company declared a quarterly dividend of $0.40 per share, with an annualized yield of 7.2%, set to be paid on September 12th to shareholders of record as of August 29th.
• Several hedge funds have increased their positions in Barings Corporate Investors during the second quarter, with MGB Wealth Management leading with a 19.8% increase in shares owned.

Barings Corporate Investors (NYSE:MCI - Get Free Report) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 21,900 shares, an increase of 231.8% from the August 15th total of 6,600 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 29,100 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily trading volume, of 29,100 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Barings Corporate Investors

Institutional investors and hedge funds have recently modified their holdings of the company. GHP Investment Advisors Inc. purchased a new stake in shares of Barings Corporate Investors in the first quarter worth about $25,000. Ameritas Advisory Services LLC purchased a new stake in shares of Barings Corporate Investors in the second quarter worth about $46,000. Whipplewood Advisors LLC lifted its holdings in shares of Barings Corporate Investors by 773.9% in the second quarter. Whipplewood Advisors LLC now owns 2,613 shares of the financial services provider's stock worth $57,000 after buying an additional 2,314 shares in the last quarter. Wolff Financial Management LLC purchased a new stake in shares of Barings Corporate Investors in the first quarter worth about $216,000. Finally, PKS Advisory Services LLC purchased a new stake in shares of Barings Corporate Investors in the first quarter worth about $225,000.

Barings Corporate Investors Price Performance

NYSE:MCI traded down $0.03 on Wednesday, reaching $22.84. 43,985 shares of the company's stock were exchanged, compared to its average volume of 39,361. Barings Corporate Investors has a 52 week low of $18.60 and a 52 week high of $25.24. The stock has a fifty day simple moving average of $21.19 and a 200-day simple moving average of $20.85.

Barings Corporate Investors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, August 29th.

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.