Barings Corporate Investors (NYSE:MCI) Shares Break Above Fifty Day Moving Average – What’s Next?

Barings Corporate Investors (NYSE:MCI)’s share price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $17.95 and traded as high as $18.29. Barings Corporate Investors shares last traded at $17.7360, with a volume of 75,065 shares traded.

Barings Corporate Investors Price Performance

The stock has a 50-day moving average of $17.97 and a two-hundred day moving average of $17.79.

Barings Corporate Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.60 dividend on an annualized basis and a yield of 9.0%.

Institutional Investors Weigh In On Barings Corporate Investors

Several hedge funds have recently made changes to their positions in the company. Equitable Holdings Inc. acquired a new position in Barings Corporate Investors during the second quarter valued at $1,080,000. Cetera Investment Advisers boosted its position 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 acquiring an additional 90,542 shares during the period. Beacon Pointe Advisors LLC purchased a new position in Barings Corporate Investors during the 2nd quarter valued at about $1,651,000. BOK Financial Private Wealth Inc. purchased a new position in Barings Corporate Investors during the 2nd quarter valued at about $50,000. Finally, Perigon Wealth Management LLC acquired a new position in shares of Barings Corporate Investors in the 2nd quarter valued at about $217,000.

Barings Corporate Investors Company Profile

Barings Corporate Investors (NYSE: MCI) is a non-diversified, closed-end investment company that seeks to provide investors with current income and long-term capital appreciation. The fund invests primarily in privately issued debt and equity securities of established middle-market companies.

Its portfolio may include senior secured loans, subordinated debt, preferred stock and common equity investments. Through these investments, Barings Corporate Investors provides financing to companies across a range of industries, with an emphasis on privately owned or sponsor-backed businesses in the United States and other North American markets.

The company was established in 1971 and is advised by Barings LLC, a global investment manager.