If we use the conservative model and the NAV adjusts higher by 11% then the NAV estimate for the second quarter is $15.72 net of that distribution. The more aggressive model shows a NAV return of over 35%. We estimate that the NAV will rise by at least 11% in the next update if today were the end of the quarter. ![]() Net investment income for the year was $22.58M or $1.12 per share. In January, the fourth quarter NAV was $15.24 per share on 20.22M shares. The quarterly NAV is going to be reported as of June 30 and will likely come out the third week of July. The blue line is the NAV which is only reported on a quarterly basis, unlike daily for most CEFs. The price was at $16.98 at the high in mid February and cratered all the way down to $9.40 on March 19, a decline of 44.6% peak-to-trough. When the virus crisis hit, the price crashed. The price prior to the COVID-19 crisis was well above par with the premium rising through most of the last year. And for the first time in many quarters (and even years) there's a nice opportunity setting up here. We are expecting a quarterly NAV update on this high-yield fund in a few weeks time. ![]() ![]() All data herein is from those dates.) Barings Corporate Investors ( NYSE: MCI) ![]() (This report was issued on June 15 to members of Yield Hunting.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |