Barings Corporate Investors (NYSE:MCI) Shares Shorted: Short Interest Down 44.4% in October

Key Points

• Short interest fell 44.4% in October to 14,026 shares, representing just 0.1% of MCI’s outstanding shares and 0.4 days of average trading volume to cover.
• MCI shares declined 1.2% to $17.86, below both the 50-day and 200-day moving averages, while trading near the middle of their $16.21–$21.50 52-week range.
• The company announced a quarterly dividend of $0.40 per share, equivalent to $1.60 annually and a 9.0% yield; the dividend is payable November 13 to shareholders of record November 2.

Barings Corporate Investors (NYSE:MCI - Get Free Report) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 14,026 shares, a drop of 44.4% from the September 30th total of 25,208 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 31,608 shares, the days-to-cover ratio is currently 0.4 days.

Barings Corporate Investors Stock Down 1.2%

Shares of MCI stock traded down $0.22 during trading on Friday, hitting $17.86. The company had a trading volume of 29,636 shares, compared to its average volume of 29,627. The stock's 50-day moving average is $18.42 and its two-hundred day moving average is $18.34. Barings Corporate Investors has a 52 week low of $16.21 and a 52 week high of $21.50.

Barings Corporate Investors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 2nd will be given a $0.40 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.60 annualized dividend and a yield of 9.0%.

Institutional Investors Weigh In On Barings Corporate Investors

Hedge funds and other institutional investors have recently modified their holdings of the stock. World Investment Advisors increased its stake in shares of Barings Corporate Investors by 2.1% in the first quarter. World Investment Advisors now owns 41,476 shares of the financial services provider's stock worth $715,000 after buying an additional 870 shares during the period. Whipplewood Advisors LLC grew its holdings in Barings Corporate Investors by 40.3% in 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. BOK Financial Private Wealth Inc. purchased a new position in Barings Corporate Investors during the second quarter valued at $50,000. TSP Capital Management Group LLC grew its holdings in shares of Barings Corporate Investors by 5.4% during the second quarter. TSP Capital Management Group LLC now owns 86,732 shares of the financial services provider's stock valued at $1,523,000 after buying an additional 4,446 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of Barings Corporate Investors during the first quarter valued at $120,000.

About Barings Corporate Investors

Barings Corporate Investors NYSE: MCI is a closed-end investment company that invests primarily in privately owned, middle-market companies. Its portfolio may include senior and subordinated debt securities, preferred stock and common equity investments.

The company generally seeks to provide investors with current income and long-term capital appreciation through a diversified portfolio of corporate investments. Its investment focus is primarily on companies in the United States across a range of industries.

Barings Corporate Investors is externally managed by Barings LLC, a global investment manager.

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