Silver Spike Investment Corp. (NASDAQ:SSIC) Short Interest Down 32.2% in May

Silver Spike Investment Corp. (NASDAQ:SSIC) was the target of a significant decline in short interest in May. As of May 31st, there was short interest totalling 11,800 shares, a decline of 32.2% from the May 15th total of 17,400 shares. Based on an average daily volume of 13,500 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.7% of the shares of the stock are short sold.

Institutional Trading of Silver Spike Investment

An institutional investor recently bought a new position in Silver Spike Investment stock. O Shaughnessy Asset Management LLC bought a new position in shares of Silver Spike Investment Corp. (NASDAQ:SSIC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,446 shares of the company’s stock, valued at approximately $120,000. O Shaughnessy Asset Management LLC owned approximately 0.20% of Silver Spike Investment at the end of the most recent quarter. Hedge funds and other institutional investors own 4.36% of the company’s stock.

Silver Spike Investment Trading Up 1.3 %

Silver Spike Investment stock traded up $0.15 during trading hours on Friday, reaching $11.85. 24,090 shares of the stock were exchanged, compared to its average volume of 10,040. Silver Spike Investment has a twelve month low of $7.29 and a twelve month high of $11.89. The company has a market cap of $73.65 million, a P/E ratio of 13.62 and a beta of 0.28. The stock has a 50 day moving average of $11.11 and a two-hundred day moving average of $9.72.

Silver Spike Investment (NASDAQ:SSIC) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.09). Silver Spike Investment had a return on equity of 5.96% and a net margin of 44.98%. The firm had revenue of $2.76 million for the quarter, compared to analyst estimates of $2.38 million. During the same quarter in the prior year, the business posted $0.22 EPS. On average, analysts expect that Silver Spike Investment will post 0.63 earnings per share for the current fiscal year.

Silver Spike Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be paid a $0.25 dividend. The ex-dividend date is Thursday, June 20th. This represents a $1.00 annualized dividend and a dividend yield of 8.44%. Silver Spike Investment’s payout ratio is 114.94%.

Silver Spike Investment Company Profile

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.