Logan Ridge Finance Co. (NASDAQ:LRFC) Short Interest Update

Logan Ridge Finance Co. (NASDAQ:LRFC) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 4,000 shares, a drop of 33.3% from the February 28th total of 6,000 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 8,000 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Logan Ridge Finance stock. Bulldog Investors LLP grew its holdings in shares of Logan Ridge Finance Co. (NASDAQ:LRFC) by 58.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 219,366 shares of the company’s stock after buying an additional 81,300 shares during the quarter. Logan Ridge Finance accounts for approximately 1.5% of Bulldog Investors LLP’s holdings, making the stock its 25th biggest holding. Bulldog Investors LLP owned approximately 8.23% of Logan Ridge Finance worth $5,446,000 as of its most recent SEC filing. 30.87% of the stock is currently owned by hedge funds and other institutional investors.

Logan Ridge Finance Stock Performance

NASDAQ:LRFC traded up $0.09 on Monday, hitting $22.00. The stock had a trading volume of 6,942 shares, compared to its average volume of 5,408. The business’s 50-day simple moving average is $24.10 and its two-hundred day simple moving average is $24.46. The stock has a market cap of $58.43 million, a price-to-earnings ratio of -17.46 and a beta of 1.23. Logan Ridge Finance has a 52-week low of $20.65 and a 52-week high of $26.00. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.11.

Logan Ridge Finance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 24th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $1.44 dividend on an annualized basis and a yield of 6.55%. Logan Ridge Finance’s dividend payout ratio is currently -2,880.00%.

Logan Ridge Finance Company Profile

Logan Ridge Finance Corporation, formerly known as, Capitala Finance Corp. is a Business Development Company specializing in senior subordinated debt and unitranche debt, unitranche loan, first-lien and second-lien loans, lower middle market and middle market, equity co-investment in sponsored companies.