Barings Corporate Investors (NYSE:MCI) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

Barings Corporate Investors (NYSE:MCI) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $20.26 and traded as high as $21.47. Barings Corporate Investors shares last traded at $21.16, with a volume of 36,761 shares changing hands.

Barings Corporate Investors Trading Up 0.8%

The company’s 50-day simple moving average is $20.26 and its two-hundred day simple moving average is $20.68.

Barings Corporate Investors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 7.56%.

Insider Activity

In other news, insider Edward P. Grace III sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $22.71, for a total value of $227,100.00. Following the completion of the sale, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $227,100. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.08% of the company’s stock.

Institutional Investors Weigh In On Barings Corporate Investors

Several institutional investors and hedge funds have recently modified their holdings of the stock. BHK Investment Advisors LLC lifted its position in shares of Barings Corporate Investors by 1.4% in the 4th quarter. BHK Investment Advisors LLC now owns 353,808 shares of the financial services provider’s stock worth $7,211,000 after purchasing an additional 4,988 shares during the period. Invesco Ltd. lifted its position in shares of Barings Corporate Investors by 39.1% in the 1st quarter. Invesco Ltd. now owns 235,814 shares of the financial services provider’s stock worth $5,527,000 after purchasing an additional 66,263 shares during the period. Global Wealth Strategies & Associates purchased a new stake in shares of Barings Corporate Investors in the 1st quarter worth about $5,128,000. Smith Asset Management Co. LLC purchased a new stake in shares of Barings Corporate Investors in the 1st quarter worth about $5,088,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Barings Corporate Investors in the 1st quarter worth about $2,330,000.

About Barings Corporate Investors

Babson Capital Corporate Investors trust is a closed ended fixed income mutual fund launched and managed by Barings LLC. It invests in fixed income markets of the United States. The fund seeks to invest in securities of companies operating across diversified sectors. It primarily invests in a portfolio of privately placed, below-investment grade, long term corporate debt obligations.