Pearl Diver Credit Company Inc. (NYSE:PDCC) Sees Significant Decrease in Short Interest

Key Points

• Pearl Diver Credit Company Inc. experienced a significant decline in short interest, dropping 96% from 2,500 shares to just 100 shares as of September 15th.
• The company's stock is currently down 0.5%, trading at $16.61, with a consensus price target of $19.50 and an average rating of "Strong Buy" from analysts.
• Pearl Diver Credit announced a monthly dividend of $0.22 per share, yielding 15.9% on an annualized basis, payable on September 30th to shareholders of record as of September 16th.

Pearl Diver Credit Company Inc. (NYSE:PDCC - Get Free Report) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totaling 100 shares, a decline of 96.0% from the August 31st total of 2,500 shares. Based on an average trading volume of 3,000 shares, the days-to-cover ratio is presently 0.0 days. Based on an average trading volume of 3,000 shares, the days-to-cover ratio is presently 0.0 days.

Pearl Diver Credit Stock Down 0.5%

Shares of PDCC stock traded down $0.09 during mid-day trading on Tuesday, hitting $16.61. The company's stock had a trading volume of 2,382 shares, compared to its average volume of 3,566. Pearl Diver Credit has a 52-week low of $15.44 and a 52-week high of $21.30. The business has a 50-day moving average price of $16.87 and a 200 day moving average price of $17.65.

Pearl Diver Credit (NYSE:PDCC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.10). The firm had revenue of $5.51 million during the quarter, compared to analysts' expectations of $5.94 million.

Pearl Diver Credit Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.22 per share. This represents a c) dividend on an annualized basis and a yield of 15.9%. The ex-dividend date is Tuesday, September 16th.

Analyst Ratings Changes

Several equities research analysts have commented on PDCC shares. Alliance Global Partners raised Pearl Diver Credit to a "strong-buy" rating in a report on Tuesday, July 1st. Industrial Alliance Securities set a $19.50 price target on Pearl Diver Credit in a research note on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Pearl Diver Credit currently has an average rating of "Strong Buy" and a consensus price target of $19.50.

Pearl Diver Credit Company Profile

Pearl Diver Credit Company Inc is a newly organized, externally managed, non-diversified, closed-end management investment company. Its primary investment objective is to maximize its portfolio's total return, with a secondary objective of generating high current income. Pearl Diver Credit Company Inc is based in NEW YORK.

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