Silver Spike Investment (NASDAQ:SSIC) Issues Quarterly Earnings Results, Meets Expectations

Silver Spike Investment (NASDAQ:SSIC) announced its earnings results on Wednesday. The company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28, Yahoo Finance reports.

Silver Spike Investment Stock Up 0.5 %

Silver Spike Investment stock opened at $9.86 on Thursday. The business has a 50 day moving average price of $8.93 and a two-hundred day moving average price of $9.13. Silver Spike Investment has a 12 month low of $7.29 and a 12 month high of $10.47.

Silver Spike Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 19th. This represents a $1.00 annualized dividend and a yield of 10.14%.

Hedge Funds Weigh In On Silver Spike Investment

A hedge fund recently bought a new stake in Silver Spike Investment stock. Penserra Capital Management LLC bought a new position in Silver Spike Investment Corp. (NASDAQ:SSIC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 109,935 shares of the company’s stock, valued at approximately $1,462,000. Penserra Capital Management LLC owned approximately 1.81% of Silver Spike Investment at the end of the most recent quarter. Institutional investors and hedge funds own 4.36% of the company’s stock.

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.