Blackstone Secured Lending Fund (NYSE:BXSL) Sees Large Growth in Short Interest

Blackstone Secured Lending Fund (NYSE:BXSL) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 2,570,000 shares, a growth of 15.8% from the November 30th total of 2,220,000 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 998,000 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Trading of Blackstone Secured Lending Fund

A number of institutional investors have recently modified their holdings of the business. Sunbelt Securities Inc. increased its holdings in Blackstone Secured Lending Fund by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 49,442 shares of the company’s stock worth $1,448,000 after acquiring an additional 329 shares during the period. Investment Partners Asset Management Inc. increased its position in shares of Blackstone Secured Lending Fund by 1.8% in the third quarter. Investment Partners Asset Management Inc. now owns 18,305 shares of the company’s stock worth $536,000 after purchasing an additional 332 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Blackstone Secured Lending Fund by 4.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,228 shares of the company’s stock worth $241,000 after buying an additional 382 shares in the last quarter. Clear Point Advisors Inc. increased its holdings in shares of Blackstone Secured Lending Fund by 15.9% in the 2nd quarter. Clear Point Advisors Inc. now owns 2,914 shares of the company’s stock worth $89,000 after buying an additional 400 shares during the last quarter. Finally, Wellington Shields Capital Management LLC lifted its holdings in shares of Blackstone Secured Lending Fund by 6.3% during the 2nd quarter. Wellington Shields Capital Management LLC now owns 8,465 shares of the company’s stock worth $259,000 after acquiring an additional 500 shares during the last quarter. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Secured Lending Fund Price Performance

Shares of NYSE BXSL traded down $0.16 during mid-day trading on Monday, reaching $33.11. 810,220 shares of the company’s stock were exchanged, compared to its average volume of 944,045. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 9.20 and a beta of 0.43. The firm has a 50-day moving average price of $31.67 and a two-hundred day moving average price of $30.80. Blackstone Secured Lending Fund has a 52 week low of $27.54 and a 52 week high of $33.48.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 9.30%. The ex-dividend date of this dividend is Tuesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 85.56%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company lowered Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 price objective on the stock. in a research report on Monday, December 2nd. Compass Point reduced their price target on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.54.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).