Barings Corporate Investors (NYSE:MCI) Stock Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• Barings Corporate Investors shares fell below their 200-day moving average, trading as low as $16.62 and last changing hands at $16.64, below the $18.46 long-term average.
• The company paid a quarterly dividend of $0.40, equivalent to $1.60 annually and a 9.6% dividend yield.
• Several institutional investors increased their positions, including Cetera Investment Advisers, which more than doubled its holdings, while Fifth Third Bancorp initiated a new stake.

Barings Corporate Investors (NYSE:MCI - Get Free Report) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.46 and traded as low as $16.62. Barings Corporate Investors shares last traded at $16.64, with a volume of 12,876 shares trading hands.

Barings Corporate Investors Price Performance

The business has a 50 day moving average of $17.31 and a 200 day moving average of $18.46.

Barings Corporate Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend was Friday, May 29th.

Hedge Funds Weigh In On Barings Corporate Investors

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whipplewood Advisors LLC boosted its position in shares of Barings Corporate Investors by 40.3% during the 2nd quarter. Whipplewood Advisors LLC now owns 3,690 shares of the financial services provider's stock valued at $65,000 after acquiring an additional 1,060 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Barings Corporate Investors by 9.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 128,057 shares of the financial services provider's stock worth $2,249,000 after purchasing an additional 10,543 shares during the period. Global Wealth Strategies & Associates boosted its holdings in Barings Corporate Investors by 4.5% during the second quarter. Global Wealth Strategies & Associates now owns 299,749 shares of the financial services provider's stock valued at $5,264,000 after purchasing an additional 12,926 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Barings Corporate Investors by 100.8% during the first quarter. Cetera Investment Advisers now owns 180,395 shares of the financial services provider's stock valued at $3,110,000 after purchasing an additional 90,542 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in Barings Corporate Investors during the first quarter valued at approximately $120,000.

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.

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