Short Interest in Barings Corporate Investors (NYSE:MCI) Drops By 49.1%

Key Points

• Short interest in Barings Corporate Investors fell 49.1% in June, dropping to 18,670 shares from 36,662 shares as of June 15.
• The stock's short interest now represents just 0.1% of shares, with a days-to-cover ratio of 0.6 days based on average trading volume.
• Barings Corporate Investors recently paid a quarterly dividend of $0.40, which works out to an annualized dividend of $1.60 and a 9.5% yield.

Barings Corporate Investors (NYSE:MCI - Get Free Report) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 18,670 shares, a decrease of 49.1% from the June 15th total of 36,662 shares. Based on an average trading volume of 31,325 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MCI. Global Wealth Strategies & Associates grew its position in shares of Barings Corporate Investors by 4.5% during the 2nd quarter. Global Wealth Strategies & Associates now owns 299,749 shares of the financial services provider's stock worth $5,264,000 after buying an additional 12,926 shares during the period. Cetera Investment Advisers raised its holdings in Barings Corporate Investors by 100.8% during the 1st quarter. Cetera Investment Advisers now owns 180,395 shares of the financial services provider's stock worth $3,110,000 after buying an additional 90,542 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Barings Corporate Investors during the first quarter worth $120,000. Kestra Advisory Services LLC raised its holdings in shares of Barings Corporate Investors by 19.6% during the first quarter. Kestra Advisory Services LLC now owns 60,482 shares of the financial services provider's stock worth $1,043,000 after acquiring an additional 9,929 shares during the period. Finally, World Investment Advisors lifted its holdings 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 valued at $715,000 after purchasing an additional 870 shares in the last quarter.

Barings Corporate Investors Stock Performance

Shares of Barings Corporate Investors stock traded up $0.08 during midday trading on Wednesday, reaching $16.93. The company had a trading volume of 30,923 shares, compared to its average volume of 37,410. The stock has a fifty day simple moving average of $17.42 and a 200 day simple moving average of $18.64. Barings Corporate Investors has a 1-year low of $16.57 and a 1-year high of $23.00.

Barings Corporate Investors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were issued a $0.40 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.60 annualized dividend and a yield of 9.5%.

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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