Silver Spike Investment Corp. (NASDAQ:SSIC) Short Interest Update

Silver Spike Investment Corp. (NASDAQ:SSIC) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 10,000 shares, a decline of 49.7% from the August 15th total of 19,900 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 6,700 shares, the days-to-cover ratio is currently 1.5 days.

Silver Spike Investment Stock Performance

Shares of Silver Spike Investment stock remained flat at $11.38 during trading hours on Friday. The stock had a trading volume of 1,109 shares, compared to its average volume of 2,059. The company has a market cap of $70.73 million, a PE ratio of 13.08 and a beta of 0.28. Silver Spike Investment has a twelve month low of $7.29 and a twelve month high of $12.45. The company’s fifty day simple moving average is $11.65 and its two-hundred day simple moving average is $11.13.

Silver Spike Investment (NASDAQ:SSIC) last announced its earnings results on Thursday, August 8th. The company reported $0.25 earnings per share for the quarter. Silver Spike Investment had a net margin of 44.96% and a return on equity of 5.62%. The company had revenue of $3.08 million during the quarter, compared to analyst estimates of $2.50 million.

Silver Spike Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.00 annualized dividend and a dividend yield of 8.79%. Silver Spike Investment’s dividend payout ratio is currently 114.94%.

Institutional Investors Weigh In On Silver Spike Investment

An institutional investor recently bought a new position in Silver Spike Investment stock. O Shaughnessy Asset Management LLC bought a new stake in Silver Spike Investment Corp. (NASDAQ:SSIC) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 12,446 shares of the company’s stock, valued at approximately $120,000. O Shaughnessy Asset Management LLC owned approximately 0.20% of Silver Spike Investment at the end of the most recent reporting period. 4.36% of the stock is currently owned by institutional investors.

About Silver Spike Investment

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.