Pearl Diver Credit (NYSE:PDCC) Stock Price Down 1.2% - Here's What Happened

Key Points

• Shares of Pearl Diver Credit (NYSE:PDCC) fell 1.2% to about $10.98 on Wednesday, with trading volume surging roughly 905% to ~54,453 shares versus a 5,420 average; the 50‑day and 200‑day moving averages are $11.40 and $13.92, respectively.
• The firm announced a monthly dividend of $0.22 payable May 29 (record/ex‑dividend date May 15), implying an annualized payout and a 24.0% dividend yield.
• Institutional activity: Kingswood Wealth Advisors raised its stake by 12.7% to 88,685 shares (about 1.37% of the company); Pearl Diver Credit is a newly organized, externally managed, non‑diversified closed‑end credit investment company.

Shares of Pearl Diver Credit Company Inc. (NYSE:PDCC - ) were down 1.2% during trading on Wednesday . The stock traded as low as $10.74 and last traded at $10.9790. Approximately 54,453 shares were traded during mid-day trading, an increase of 905% from the average daily volume of 5,420 shares. The stock had previously closed at $11.11.

Pearl Diver Credit Stock Down 1.2%

The firm's fifty day moving average price is $11.40 and its 200 day moving average price is $13.92.

Pearl Diver Credit Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a $0.22 dividend. This represents a c) annualized dividend and a dividend yield of 24.0%. The ex-dividend date of this dividend is Friday, May 15th.

Institutional Trading of Pearl Diver Credit

A hedge fund recently raised its stake in Pearl Diver Credit stock. Kingswood Wealth Advisors LLC grew its holdings in Pearl Diver Credit Company Inc. (NYSE:PDCC - Free Report) by 12.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,685 shares of the company's stock after acquiring an additional 10,000 shares during the period. Kingswood Wealth Advisors LLC owned about 1.37% of Pearl Diver Credit worth $1,463,000 at the end of the most recent quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.