217,070 Shares in Barings Corporate Investors $MCI Purchased by Smith Asset Management Co. LLC

Key Points

• Smith Asset Management Co. LLC acquired 217,070 shares of Barings Corporate Investors, valued at approximately $5,088,000, making it the firm's 3rd largest holding.
• Barings Corporate Investors recently declared a quarterly dividend of $0.40 per share, with a dividend yield of 7.5%, set to be paid on September 12th.
• The stock has shown price fluctuations, with a one-year low of $18.20 and a high of $25.24, currently trading at $21.35.

Smith Asset Management Co. LLC purchased a new position in Barings Corporate Investors (NYSE:MCI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 217,070 shares of the financial services provider's stock, valued at approximately $5,088,000. Barings Corporate Investors makes up 4.8% of Smith Asset Management Co. LLC's investment portfolio, making the stock its 3rd largest holding. Smith Asset Management Co. LLC owned approximately 1.07% of Barings Corporate Investors at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. bought a new stake in Barings Corporate Investors during the first quarter worth about $25,000. Wolff Financial Management LLC bought a new stake in Barings Corporate Investors during the first quarter worth about $216,000. PKS Advisory Services LLC bought a new stake in Barings Corporate Investors during the first quarter worth about $225,000. Fiduciary Trust Co bought a new stake in Barings Corporate Investors during the fourth quarter worth about $204,000. Finally, MGB Wealth Management LLC bought a new stake in Barings Corporate Investors during the first quarter worth about $397,000.

Barings Corporate Investors Price Performance

MCI opened at $21.35 on Tuesday. Barings Corporate Investors has a one year low of $18.20 and a one year high of $25.24. The company's 50 day simple moving average is $21.13 and its 200-day simple moving average is $20.81.

Barings Corporate Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend is 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.

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