Silver Spike Investment Corp. (NASDAQ:SSIC) Sees Large Decrease in Short Interest

Silver Spike Investment Corp. (NASDAQ:SSIC - Get Free Report) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 4,400 shares, a decline of 65.9% from the March 15th total of 12,900 shares. Based on an average daily volume of 15,900 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.3% of the shares of the company are sold short.

Institutional Trading of Silver Spike Investment

A hedge fund recently bought a new stake in Silver Spike Investment stock. Penserra Capital Management LLC purchased a new stake in shares of Silver Spike Investment Corp. (NASDAQ:SSIC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 109,935 shares of the company's stock, valued at approximately $1,462,000. Penserra Capital Management LLC owned approximately 1.81% 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 Price Performance

NASDAQ SSIC traded up $0.15 on Thursday, reaching $9.98. The stock had a trading volume of 13,905 shares, compared to its average volume of 15,503. Silver Spike Investment has a 1-year low of $7.29 and a 1-year high of $10.47. The firm has a fifty day moving average of $9.37 and a two-hundred day moving average of $9.13. The company has a market cap of $61.98 million, a P/E ratio of 8.53 and a beta of 0.41.

Silver Spike Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 10.02%. The ex-dividend date of this dividend was Tuesday, March 19th. Silver Spike Investment's dividend payout ratio (DPR) is currently 85.47%.

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.