Barings Corporate Investors (NYSE:MCI) Posts Quarterly Earnings Results

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

Barings Corporate Investors Stock Performance

Shares of Barings Corporate Investors stock traded down $0.13 during trading on Friday, hitting $17.19. 41,236 shares of the stock traded hands, compared to its average volume of 47,990. Barings Corporate Investors has a 52-week low of $16.57 and a 52-week high of $23.00. The stock’s fifty day simple moving average is $18.21 and its 200 day simple moving average is $19.55.

Barings Corporate Investors Announces Dividend

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

Hedge Funds Weigh In On Barings Corporate Investors

Several institutional investors have recently made changes to their positions in the company. Beacon Pointe Advisors LLC increased its stake in shares of Barings Corporate Investors by 10.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 60,670 shares of the financial services provider’s stock valued at $1,101,000 after buying an additional 5,875 shares during the period. Equitable Holdings Inc. purchased a new position in shares of Barings Corporate Investors during the fourth quarter valued at $548,000. Kovack Advisors Inc. purchased a new position in shares of Barings Corporate Investors during the fourth quarter valued at $202,000. Osaic Holdings Inc. increased its stake in shares of Barings Corporate Investors by 10.7% during the fourth quarter. Osaic Holdings Inc. now owns 43,352 shares of the financial services provider’s stock valued at $787,000 after buying an additional 4,205 shares during the period. Finally, Kestra Advisory Services LLC increased its stake in shares of Barings Corporate Investors by 12.9% during the fourth quarter. Kestra Advisory Services LLC now owns 50,553 shares of the financial services provider’s stock valued at $918,000 after buying an additional 5,776 shares during the period.

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.