Pearl Diver Credit Company Inc. (NYSE:PDCC) Short Interest Up 22.1% in March

Key Points

• Short interest rose 22.1% in March to 9,456 shares (about 0.1% of shares outstanding), with a short-interest ratio of 2.0 days based on average volume.
• Kingswood Wealth Advisors increased its position by 12.7% to 88,685 shares, owning roughly 1.37% of Pearl Diver Credit (about $1.46M).
• Pearl Diver Credit announced a monthly dividend of $0.22 payable May 29 (record/ex-dividend date May 15), implying an annualized yield of about 24.6%.

Pearl Diver Credit Company Inc. (NYSE:PDCC - ) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 9,456 shares, a growth of 22.1% from the March 15th total of 7,745 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 4,747 shares, the short-interest ratio is currently 2.0 days.

Hedge Funds Weigh In On Pearl Diver Credit

A hedge fund recently raised its stake in Pearl Diver Credit stock. Kingswood Wealth Advisors LLC increased its holdings in Pearl Diver Credit Company Inc. (NYSE:PDCC - Free Report) by 12.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,685 shares of the company's stock after purchasing an additional 10,000 shares during the quarter. Kingswood Wealth Advisors LLC owned 1.37% of Pearl Diver Credit worth $1,463,000 as of its most recent filing with the Securities & Exchange Commission.

Pearl Diver Credit Stock Down 2.7%

Shares of PDCC opened at $10.75 on Friday. The stock has a 50 day simple moving average of $11.35 and a two-hundred day simple moving average of $13.89. Pearl Diver Credit has a 1 year low of $9.50 and a 1 year high of $19.26.

Pearl Diver Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a $0.22 dividend. This represents a c) dividend on an annualized basis and a yield of 24.6%. The ex-dividend date is Friday, May 15th.

About Pearl Diver Credit

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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