SWK Holdings Co. 9.00% Senior Notes due 2027 (NASDAQ:SWKHL) Sees Significant Growth in Short Interest

SWK Holdings Co. 9.00% Senior Notes due 2027 (NASDAQ:SWKHL) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 4,621 shares, an increase of 195.5% from the May 14th total of 1,564 shares. Based on an average daily trading volume, of 3,320 shares, the days-to-cover ratio is currently 1.4 days.

SWK Holdings Co. 9.00% Senior Notes due 2027 Stock Down 0.1%

SWKHL stock traded down $0.03 on Friday, hitting $25.64. 498 shares of the company’s stock were exchanged, compared to its average volume of 3,528. SWK Holdings Co. 9.00% Senior Notes due 2027 has a 12-month low of $25.13 and a 12-month high of $25.92. The firm has a 50 day moving average price of $25.47 and a two-hundred day moving average price of $25.53.

SWK Holdings Co. 9.00% Senior Notes due 2027 Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 8.8%. The ex-dividend date is Monday, June 15th.

SWK Holdings Company is the indirect parent of Formica Corporation and related surfacing businesses. The company’s primary business activities center on the design, manufacturing and distribution of decorative surfacing materials for residential, commercial and industrial applications. Its product lines include high-pressure laminate, engineered quartz and solid surface sheets used in countertops, wall panels and furniture surfaces.

Under brands such as Formica® and Resopal®, SWK Holdings serves cabinet, furniture and flooring manufacturers, as well as commercial distributors.