Barings Corporate Investors (NYSE:MCI) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Barings Corporate Investors (NYSE:MCI)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.46 and traded as low as $16.62. Barings Corporate Investors shares last traded at $16.64, with a volume of 12,876 shares.

Barings Corporate Investors Stock Down 0.7%

The company’s 50 day moving average price is $17.31 and its 200 day moving average price is $18.46.

Barings Corporate Investors Announces Dividend

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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend was Friday, May 29th.

Hedge Funds Weigh In On Barings Corporate Investors

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCI. Bank of America Corp DE increased its holdings in shares of Barings Corporate Investors by 2.0% during the second quarter. Bank of America Corp DE now owns 38,320 shares of the financial services provider’s stock worth $830,000 after buying an additional 735 shares in the last quarter. World Investment Advisors boosted its holdings in shares of Barings Corporate Investors by 2.1% in the 4th quarter. World Investment Advisors now owns 40,606 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 838 shares in the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of Barings Corporate Investors by 40.3% in the 2nd quarter. Whipplewood Advisors LLC now owns 3,690 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 1,060 shares in the last quarter. Sky Investment Group LLC boosted its holdings 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 worth $2,936,000 after acquiring an additional 1,500 shares in the last quarter. Finally, LPL Financial LLC grew its position in Barings Corporate Investors by 1.3% during the 4th quarter. LPL Financial LLC now owns 123,931 shares of the financial services provider’s stock worth $2,249,000 after acquiring an additional 1,599 shares during the last quarter.

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.