Barings Corporate Investors (NYSE:MCI) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Barings Corporate Investors (NYSE:MCI) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $20.45 and traded as low as $19.15. Barings Corporate Investors shares last traded at $19.23, with a volume of 62,189 shares trading hands.

Barings Corporate Investors Stock Down 2.0%

The stock’s 50 day moving average is $20.45 and its 200-day moving average is $20.83.

Barings Corporate Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Tuesday, December 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 8.3%. The ex-dividend date is Tuesday, December 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCI. Advisory Services Network LLC purchased a new position in Barings Corporate Investors in the third quarter worth about $50,000. Susquehanna International Group LLP bought a new position in Barings Corporate Investors in the third quarter valued at about $259,000. Focus Partners Wealth lifted its stake in shares of Barings Corporate Investors by 85.7% in the 3rd quarter. Focus Partners Wealth now owns 35,723 shares of the financial services provider’s stock worth $756,000 after purchasing an additional 16,485 shares during the period. Bank of America Corp DE boosted its stake in shares of Barings Corporate Investors by 12.6% during the 3rd quarter. Bank of America Corp DE now owns 43,138 shares of the financial services provider’s stock worth $896,000 after acquiring an additional 4,818 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Barings Corporate Investors during the third quarter valued at $311,000.

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.