Barings Corporate Investors (NYSE:MCI) Share Price Passes Below 50-Day Moving Average – Here’s Why

Barings Corporate Investors (NYSE:MCI)’s share price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $20.45 and traded as low as $19.15. Barings Corporate Investors shares last traded at $19.23, with a volume of 62,189 shares.

Barings Corporate Investors Stock Down 2.0%

The stock has a 50 day simple moving average of $20.45 and a 200-day simple moving average of $20.83.

Barings Corporate Investors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Tuesday, December 30th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Tuesday, December 30th.

Institutional Investors Weigh In On Barings Corporate Investors

Institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp raised its position in shares of Barings Corporate Investors by 703.5% during the first quarter. Jones Financial Companies Lllp now owns 22,217 shares of the financial services provider’s stock valued at $521,000 after buying an additional 19,452 shares during the last quarter. Smith Asset Management Co. LLC bought a new stake in Barings Corporate Investors in the 1st quarter valued at $5,088,000. Global Wealth Strategies & Associates increased its holdings in Barings Corporate Investors by 3.3% in the 2nd quarter. Global Wealth Strategies & Associates now owns 226,071 shares of the financial services provider’s stock valued at $4,897,000 after acquiring an additional 7,312 shares during the last quarter. Secure Asset Management LLC lifted its stake in Barings Corporate Investors by 4.2% in the 2nd quarter. Secure Asset Management LLC now owns 176,900 shares of the financial services provider’s stock worth $3,832,000 after purchasing an additional 7,062 shares in the last quarter. Finally, Farther Finance Advisors LLC bought a new position in shares of Barings Corporate Investors during the 2nd quarter valued at about $451,000.

Barings Corporate Investors Company Profile

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.