Short Interest in Barings Corporate Investors (NYSE:MCI) Rises By 384.1%

Key Points

• Short interest surged 384.1% to 66,525 shares as of August 31, representing about 0.3% of Barings Corporate Investors’ outstanding stock and 0.9 days of average trading volume.
• Several institutional investors increased their positions, including Cetera Investment Advisers, which more than doubled its holdings, while other firms made smaller additions.
• MCI shares rose 2.6% to $19.77, and the company announced a quarterly dividend of $0.40 per share, equivalent to an annualized $1.60 payout and an 8.1% yield.

Barings Corporate Investors (NYSE:MCI - Get Free Report) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 66,525 shares, an increase of 384.1% from the August 15th total of 13,743 shares. Approximately 0.3% of the company's stock are sold short. Based on an average trading volume of 74,387 shares, the short-interest ratio is currently 0.9 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MCI. Global Wealth Strategies & Associates grew its holdings in Barings Corporate Investors by 4.5% in the 2nd quarter. Global Wealth Strategies & Associates now owns 299,749 shares of the financial services provider's stock valued at $5,264,000 after buying an additional 12,926 shares during the last quarter. Invesco Ltd. raised its position in Barings Corporate Investors by 2.9% in the third quarter. Invesco Ltd. now owns 244,810 shares of the financial services provider's stock worth $5,082,000 after purchasing an additional 6,924 shares in the last quarter. Secure Asset Management LLC boosted its holdings in Barings Corporate Investors by 4.0% during the second quarter. Secure Asset Management LLC now owns 208,965 shares of the financial services provider's stock valued at $3,669,000 after purchasing an additional 8,117 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, Sky Investment Group LLC grew its stake in shares of Barings Corporate Investors by 0.9% in the 1st quarter. Sky Investment Group LLC now owns 170,289 shares of the financial services provider's stock valued at $2,936,000 after purchasing an additional 1,500 shares during the period.

Barings Corporate Investors Trading Up 2.6%

Shares of NYSE:MCI traded up $0.49 during trading on Friday, reaching $19.77. 91,026 shares of the company traded hands, compared to its average volume of 38,657. The firm has a fifty day simple moving average of $17.55 and a 200 day simple moving average of $17.93. Barings Corporate Investors has a 1-year low of $16.21 and a 1-year high of $23.00.

Barings Corporate Investors Dividend Announcement

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

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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