MGB Wealth Management LLC Makes New $397,000 Investment in Barings Corporate Investors (NYSE:MCI)

Key Points

• MGB Wealth Management LLC has acquired 17,674 shares of Barings Corporate Investors (NYSE:MCI), valued at approximately $397,000, marking its entry into the financial services provider's stock.
• Barings Corporate Investors recently announced a quarterly dividend of $0.40 per share, representing an annual yield of 7.9% for shareholders.
• The company's stock has fluctuated between a 52-week low of $17.20 and a high of $25.24, with recent trading around $20.35.

MGB Wealth Management LLC bought a new stake in Barings Corporate Investors (NYSE:MCI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,674 shares of the financial services provider's stock, valued at approximately $397,000. MGB Wealth Management LLC owned approximately 0.09% of Barings Corporate Investors as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MCI. GHP Investment Advisors Inc. bought a new stake in Barings Corporate Investors during the first quarter worth $25,000. Fiduciary Trust Co bought a new stake in Barings Corporate Investors during the fourth quarter worth $204,000. Wolff Financial Management LLC bought a new stake in Barings Corporate Investors during the first quarter worth $216,000. LPL Financial LLC lifted its holdings in Barings Corporate Investors by 21.7% during the fourth quarter. LPL Financial LLC now owns 13,016 shares of the financial services provider's stock worth $265,000 after acquiring an additional 2,320 shares during the period. Finally, Graypoint LLC lifted its holdings in 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 during the period.

Barings Corporate Investors Stock Performance

Barings Corporate Investors stock traded down $0.33 during mid-day trading on Friday, reaching $20.32. 16,878 shares of the company's stock were exchanged, compared to its average volume of 22,572. The business's fifty day simple moving average is $20.85 and its 200 day simple moving average is $20.90. Barings Corporate Investors has a one year low of $17.28 and a one year high of $25.24.

Barings Corporate Investors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend was Friday, May 30th.

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.