Silver Spike Investment (NASDAQ:SSIC) Announces Quarterly Earnings Results, Meets Estimates

Silver Spike Investment (NASDAQ:SSIC) announced its quarterly 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 %

Shares of SSIC stock opened at $9.86 on Thursday. Silver Spike Investment has a 1-year low of $7.29 and a 1-year high of $10.47. The stock has a 50 day simple moving average of $8.93 and a 200-day simple moving average of $9.13.

Silver Spike Investment Announces Dividend

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

Institutional Investors Weigh In On Silver Spike Investment

An institutional investor recently bought a new position in Silver Spike Investment stock. Penserra Capital Management LLC bought a new position in shares of Silver Spike Investment Corp. (NASDAQ:SSIC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

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.