Beacon Pointe Advisors LLC Invests $1.65 Million in Barings Corporate Investors $MCI

Key Points

• Beacon Pointe Advisors purchased 93,996 shares of Barings Corporate Investors worth approximately $1.65 million, giving it a 0.46% stake.
• Several other institutional investors also initiated or increased positions in MCI during recent quarters, including Whipplewood Advisors, which raised its stake by 40.3%.
• MCI shares opened at $19.64, while the company announced a quarterly dividend of $0.40 per share, representing an annualized yield of approximately 8.1%.

Beacon Pointe Advisors LLC bought a new position in Barings Corporate Investors (NYSE:MCI - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 93,996 shares of the financial services provider's stock, valued at approximately $1,651,000. Beacon Pointe Advisors LLC owned approximately 0.46% of Barings Corporate Investors at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. BOK Financial Private Wealth Inc. acquired a new stake in shares of Barings Corporate Investors during the 2nd quarter valued at $50,000. Advisory Services Network LLC acquired a new position in shares of Barings Corporate Investors in the 3rd quarter worth $50,000. Whipplewood Advisors LLC raised its position in shares of Barings Corporate Investors by 40.3% during the second quarter. Whipplewood Advisors LLC now owns 3,690 shares of the financial services provider's stock worth $65,000 after purchasing an additional 1,060 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Barings Corporate Investors during the first quarter worth $120,000. Finally, Osbon Capital Management LLC purchased a new stake in shares of Barings Corporate Investors during the second quarter valued at $186,000.

Barings Corporate Investors Price Performance

Shares of MCI opened at $19.64 on Monday. The business's 50-day moving average price is $17.27 and its 200 day moving average price is $18.04. Barings Corporate Investors has a 1-year low of $16.21 and a 1-year high of $23.00.

Barings Corporate Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 8.1%. The ex-dividend date of this dividend is Friday, August 28th.

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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