Harvest Capital Management Inc cut its position in shares of Barings Corporate Investors (NYSE:MCI) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,964 shares of the financial services provider’s stock after selling 10,373 shares during the quarter. Barings Corporate Investors accounts for 0.8% of Harvest Capital Management Inc’s portfolio, making the stock its 25th biggest holding. Harvest Capital Management Inc owned approximately 0.75% of Barings Corporate Investors worth $2,204,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its stake in Barings Corporate Investors by 89.1% during the second quarter. Raymond James & Associates now owns 21,093 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 9,937 shares during the period. Biondo Investment Advisors LLC bought a new position in Barings Corporate Investors during the third quarter worth about $337,000. Wedbush Securities Inc. lifted its stake in Barings Corporate Investors by 3.8% during the fourth quarter. Wedbush Securities Inc. now owns 27,282 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 1,000 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in Barings Corporate Investors by 20.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 36,053 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 6,237 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in Barings Corporate Investors by 165.8% during the third quarter. Wells Fargo & Company MN now owns 36,285 shares of the financial services provider’s stock worth $556,000 after purchasing an additional 22,636 shares during the period. 10.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of MCI opened at $15.47 on Tuesday. Barings Corporate Investors has a 12 month low of $14.70 and a 12 month high of $15.65.
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Barings Corporate Investors Profile
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.
Further Reading: How Do Mutual Funds Work?
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