Great Elm Capital Corp. (NASDAQ:GECC) Sees Large Growth in Short Interest

Great Elm Capital Corp. (NASDAQ:GECC) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 24,000 shares, an increase of 48.1% from the October 15th total of 16,200 shares. Based on an average daily volume of 17,600 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.3% of the company’s stock are sold short.

Insider Transactions at Great Elm Capital

In related news, Director Matthew A. Drapkin bought 3,189 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was purchased at an average price of $10.01 per share, with a total value of $31,921.89. Following the completion of the acquisition, the director now owns 64,806 shares of the company’s stock, valued at $648,708.06. The trade was a 5.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GECC. O Shaughnessy Asset Management LLC raised its holdings in shares of 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 acquiring an additional 3,214 shares in the last quarter. Cruiser Capital Advisors LLC grew its stake in shares of Great Elm Capital by 28.8% in the first quarter. Cruiser Capital Advisors LLC now owns 95,848 shares of the financial services provider’s stock worth $1,060,000 after acquiring an additional 21,422 shares during the last quarter. Finally, Crestwood Advisors Group LLC purchased a new stake in shares of Great Elm Capital in the third quarter worth $127,000. Hedge funds and other institutional investors own 38.75% of the company’s stock.

Great Elm Capital Stock Up 0.5 %

NASDAQ GECC traded up $0.05 during mid-day trading on Friday, hitting $10.08. The company’s stock had a trading volume of 4,174 shares, compared to its average volume of 17,765. The company’s 50 day simple moving average is $10.07 and its 200 day simple moving average is $10.24. Great Elm Capital has a twelve month low of $9.55 and a twelve month high of $11.82. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.83. The firm has a market capitalization of $105.28 million, a price-to-earnings ratio of 14.60 and a beta of 1.60.

Great Elm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.35 per share. 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 presently 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.