Barings Corporate Investors (NYSE:MCI) Sees Large Drop in Short Interest

Barings Corporate Investors (NYSE:MCI) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 43,200 shares, a drop of 33.4% from the February 28th total of 64,900 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 49,400 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Investors Weigh In On Barings Corporate Investors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fiduciary Trust Co bought a new position in shares of Barings Corporate Investors during the fourth quarter valued at about $204,000. Cetera Investment Advisers lifted its holdings in Barings Corporate Investors by 8.3% in the 4th quarter. Cetera Investment Advisers now owns 98,054 shares of the financial services provider’s stock worth $1,998,000 after buying an additional 7,524 shares during the period. Bank of America Corp DE grew its position in shares of Barings Corporate Investors by 108.3% in the 4th quarter. Bank of America Corp DE now owns 33,917 shares of the financial services provider’s stock worth $691,000 after buying an additional 17,637 shares during the last quarter. Benjamin Edwards Inc. grew its position in shares of Barings Corporate Investors by 16.3% in the 4th quarter. Benjamin Edwards Inc. now owns 35,171 shares of the financial services provider’s stock worth $717,000 after buying an additional 4,923 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Barings Corporate Investors during the fourth quarter valued at approximately $1,027,000.

Barings Corporate Investors Stock Performance

MCI stock traded up $0.57 during midday trading on Friday, hitting $22.86. The company had a trading volume of 58,656 shares, compared to its average volume of 33,981. Barings Corporate Investors has a 52 week low of $16.91 and a 52 week high of $25.24. The stock’s 50 day moving average price is $21.21 and its 200 day moving average price is $20.26.

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.