Short Interest in WhiteHawk Income Corp. (NYSE:WHK) Declines By 36.4%

Key Points

• Short interest in WhiteHawk Income fell 36.4% to 147,162 shares as of August 31, representing approximately 0.5% of shares outstanding and 1.2 days of average trading volume.
• WHK shares traded at $27.54, while the company paid a quarterly dividend of $0.61, equivalent to an 8.9% annualized yield.
• Analyst opinions remain mixed, but the stock holds a “Moderate Buy” consensus rating with an average price target of $32.40; several hedge funds also established new positions during the second quarter.

WhiteHawk Income Corp. (NYSE:WHK - Get Free Report) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 147,162 shares, a drop of 36.4% from the August 15th total of 231,420 shares. Based on an average daily volume of 119,708 shares, the short-interest ratio is currently 1.2 days. Approximately 0.5% of the company's stock are sold short.

WhiteHawk Income Stock Up 0.8%

WHK stock traded up $0.22 during mid-day trading on Thursday, reaching $27.54. 269,097 shares of the stock traded hands, compared to its average volume of 160,425. WhiteHawk Income has a one year low of $25.34 and a one year high of $29.07. The company has a 50-day simple moving average of $26.66.

WhiteHawk Income Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 24th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend was Monday, August 24th.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WHK shares. Zacks Research upgraded shares of WhiteHawk Income to a "hold" rating in a research note on Tuesday, July 7th. Capital One Financial began coverage on shares of WhiteHawk Income in a research note on Monday, July 6th. They issued an "overweight" rating and a $32.00 price objective on the stock. Wall Street Zen downgraded WhiteHawk Income from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. Raymond James Financial upped their price target on shares of WhiteHawk Income from $34.00 to $37.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, September 2nd. Finally, Weiss Ratings initiated coverage on WhiteHawk Income in a research note on Monday, August 31st. They set a "sell (e)" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.40.

Institutional Trading of WhiteHawk Income

A number of hedge funds have recently added to or reduced their stakes in WHK. BlueCrest Capital Management Ltd purchased a new stake in shares of WhiteHawk Income in the 2nd quarter worth approximately $3,756,000. Citadel Advisors LLC purchased a new position in WhiteHawk Income during the 2nd quarter worth $10,215,000. Readystate Asset Management LP acquired a new position in shares of WhiteHawk Income during the second quarter valued at about $696,000. Finally, Alyeska Investment Group L.P. acquired a new position in WhiteHawk Income during the 2nd quarter valued at approximately $6,955,000.

About WhiteHawk Income

WhiteHawk Income Corporation NYSE: WHK is a closed-end investment company focused on generating current income through investments in privately held, middle-market businesses. The company primarily invests in debt securities, including senior secured loans and other credit instruments.

Its investment portfolio is generally designed to provide financing to companies across a range of industries, with an emphasis on loans that may offer contractual interest payments and security interests in the borrowers' assets.

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