Silver Spike Investment (NASDAQ:SSIC) Issues Earnings Results

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

Silver Spike Investment Price Performance

SSIC stock opened at $9.86 on Thursday. Silver Spike Investment has a 12 month low of $7.29 and a 12 month high of $10.47. The firm has a 50-day moving average price of $8.93 and a 200-day moving average price of $9.13.

Silver Spike Investment Announces Dividend

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

Institutional Inflows and Outflows

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 the company in its most recent disclosure with the SEC. 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 as of its most recent SEC filing. 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.