Great Elm Capital Corp. (NASDAQ:GECC) Short Interest Update

Great Elm Capital Corp. (NASDAQ:GECC) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 24,000 shares, a growth of 48.1% from the October 15th total of 16,200 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 17,600 shares, the short-interest ratio is presently 1.4 days.

Insiders Place Their Bets

In related news, Director Matthew A. Drapkin acquired 9,600 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were acquired at an average cost of $9.92 per share, for a total transaction of $95,232.00. Following the acquisition, the director now directly owns 75,716 shares in the company, valued at approximately $751,102.72. The trade was a 14.52 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 10.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Great Elm Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in GECC. Crestwood Advisors Group LLC purchased a new stake in shares of Great Elm Capital during the 3rd quarter worth about $127,000. O Shaughnessy Asset Management LLC lifted its position in Great Elm Capital by 13.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 27,730 shares of the financial services provider’s stock valued at $307,000 after buying an additional 3,214 shares in the last quarter. Finally, Cruiser Capital Advisors LLC grew its stake in Great Elm Capital by 28.8% during the first quarter. Cruiser Capital Advisors LLC now owns 95,848 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 21,422 shares during the period. 38.75% of the stock is currently owned by institutional investors and hedge funds.

Great Elm Capital Trading Up 0.5 %

NASDAQ:GECC traded up $0.05 during trading hours on Friday, reaching $10.08. 4,174 shares of the company were exchanged, compared to its average volume of 17,765. Great Elm Capital has a 52-week low of $9.55 and a 52-week high of $11.82. The stock has a 50 day simple moving average of $10.07 and a 200 day simple moving average of $10.24. The firm has a market cap of $105.28 million, a price-to-earnings ratio of 14.60 and a beta of 1.60. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.11 and a quick ratio of 0.11.

Great Elm Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 13.90%. The ex-dividend date of this dividend is Monday, December 16th. Great Elm Capital’s payout ratio is currently 202.90%.

About Great Elm Capital

Great Elm Capital Corp. is a business development company which specializes in loan and mezzanine, middle market investments. It invests in the debt instruments of middle market companies. The fund prefers to invest in media, commercial services and supplies, healthcare, telecommunication services, communications equipment.