MSC Income Fund (NYSE:MSIF) Sees Large Increase in Short Interest

MSC Income Fund (NYSE:MSIF) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 620,300 shares, a growth of 66.2% from the July 15th total of 373,246 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 301,769 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analyst Weigh In

MSIF has been the subject of several research analyst reports. Truist Financial raised their price objective on MSC Income Fund from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Zacks Research raised shares of MSC Income Fund from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. UBS Group dropped their price objective on shares of MSC Income Fund from $14.00 to $13.50 and set a “neutral” rating on the stock in a report on Monday, May 18th. Royal Bank Of Canada dropped their price objective on shares of MSC Income Fund from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Finally, B. Riley Financial began coverage on shares of MSC Income Fund in a research note on Thursday, June 18th. They issued a “buy” rating and a $13.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, MSC Income Fund has a consensus rating of “Moderate Buy” and a consensus price target of $14.12.

Insider Activity at MSC Income Fund

In other news, Director Jeffrey B. Walker bought 3,933 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $12.02 per share, with a total value of $47,274.66. Following the transaction, the director directly owned 26,311 shares in the company, valued at approximately $316,258.22. The trade was a 17.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Nicholas Meserve bought 2,500 shares of MSC Income Fund stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average price of $11.43 per share, with a total value of $28,575.00. Following the purchase, the director directly owned 12,500 shares in the company, valued at $142,875. The trade was a 25.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 17,905 shares of company stock valued at $210,066 in the last ninety days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Richmond Investment Services LLC acquired a new stake in MSC Income Fund in the first quarter valued at approximately $148,000. Meridian Investment Counsel Inc. raised its stake in shares of MSC Income Fund by 150.5% during the 1st quarter. Meridian Investment Counsel Inc. now owns 40,700 shares of the company’s stock worth $496,000 after buying an additional 24,450 shares during the period. Raleigh Capital Management Inc. raised its stake in shares of MSC Income Fund by 51.1% during the 1st quarter. Raleigh Capital Management Inc. now owns 5,685 shares of the company’s stock worth $69,000 after buying an additional 1,923 shares during the period. Beacon Financial Advisory LLC purchased a new position in shares of MSC Income Fund during the 1st quarter valued at approximately $455,000. Finally, PFG Investments LLC lifted its position in shares of MSC Income Fund by 15.4% during the 1st quarter. PFG Investments LLC now owns 14,846 shares of the company’s stock valued at $181,000 after buying an additional 1,983 shares in the last quarter.

MSC Income Fund Stock Performance

NYSE:MSIF traded down $0.26 during trading hours on Monday, reaching $12.18. The company had a trading volume of 250,079 shares, compared to its average volume of 324,757. MSC Income Fund has a 1-year low of $10.80 and a 1-year high of $14.55. The company has a market capitalization of $574.27 million and a price-to-earnings ratio of -3,692.03. The stock has a 50 day moving average price of $11.61.

MSC Income Fund (NYSE:MSIF) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). The firm had revenue of $54.66 million for the quarter, compared to analyst estimates of $35.46 million.

MSC Income Fund Dividend Announcement

The company also recently declared a special dividend, which will be paid on Wednesday, December 23rd. Investors of record on Wednesday, December 16th will be given a dividend of $0.03 per share. This represents a yield of 1,121.0%. The ex-dividend date is Wednesday, December 16th.

MSC Income Fund (NYSE: MSIF) is a publicly traded investment company listed on the New York Stock Exchange that aims to provide shareholders with current income and the potential for capital appreciation through a diversified portfolio of income-producing assets. The fund offers investors a single vehicle to gain exposure to a variety of yield-generating securities managed under a unified investment strategy.

The fund’s portfolio strategy emphasizes a broad approach to income generation, with allocations that can include fixed-income instruments and other income-oriented securities.