Barings Corporate Investors (NYSE:MCI) Announces Earnings Results

Barings Corporate Investors (NYSE:MCI) announced its quarterly earnings results on Thursday. The financial services provider reported $999.00 earnings per share for the quarter, Zacks reports.

Barings Corporate Investors Trading Down 0.8%

NYSE:MCI traded down $0.13 during mid-day trading on Friday, reaching $17.19. 41,236 shares of the stock were exchanged, compared to its average volume of 47,990. The company has a 50 day simple moving average of $18.21 and a 200-day simple moving average of $19.55. Barings Corporate Investors has a 1 year low of $16.57 and a 1 year high of $23.00.

Barings Corporate Investors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date is Friday, May 29th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MCI. Advisory Services Network LLC purchased a new position in Barings Corporate Investors during the 3rd quarter worth approximately $50,000. Kovack Advisors Inc. purchased a new position in Barings Corporate Investors during the 4th quarter worth approximately $202,000. Susquehanna International Group LLP purchased a new position in Barings Corporate Investors during the 3rd quarter worth approximately $259,000. Virtu Financial LLC purchased a new position in Barings Corporate Investors during the 3rd quarter worth approximately $311,000. Finally, MGB Wealth Management LLC grew its stake in Barings Corporate Investors by 19.8% during the 2nd quarter. MGB Wealth Management LLC now owns 21,167 shares of the financial services provider’s stock worth $457,000 after buying an additional 3,493 shares during the last quarter.

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.