Silver Spike Investment (NASDAQ:SSIC) Trading Up 1.3% – Here’s Why

Silver Spike Investment Corp. (NASDAQ:SSIC)’s stock price shot up 1.3% during trading on Friday . The stock traded as high as $12.28 and last traded at $11.90. 77,811 shares were traded during mid-day trading, an increase of 606% from the average session volume of 11,019 shares. The stock had previously closed at $11.75.

Silver Spike Investment Trading Up 1.3 %

The firm has a 50-day simple moving average of $11.48 and a two-hundred day simple moving average of $11.26. The company has a market capitalization of $73.96 million, a price-to-earnings ratio of 13.68 and a beta of 0.28.

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

Silver Spike Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 19th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.40%. The ex-dividend date was Thursday, September 19th. Silver Spike Investment’s dividend payout ratio is currently 114.94%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Silver Spike Investment stock. O Shaughnessy Asset Management LLC purchased a new stake in Silver Spike Investment Corp. (NASDAQ:SSIC) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 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 as of its most recent SEC filing. 4.36% of the stock is currently owned by hedge funds and other institutional investors.

Silver Spike Investment Company Profile

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.