Van ECK Associates Corp Purchases 88,698 Shares of Trinity Capital Inc. (NASDAQ:TRIN)

Van ECK Associates Corp grew its stake in Trinity Capital Inc. (NASDAQ:TRIN) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,389,788 shares of the company’s stock after acquiring an additional 88,698 shares during the quarter. Van ECK Associates Corp owned 2.36% of Trinity Capital worth $20,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP increased its stake in shares of Trinity Capital by 1,053.0% in the 3rd quarter. Quarry LP now owns 3,701 shares of the company’s stock valued at $50,000 after acquiring an additional 3,380 shares during the last quarter. McIlrath & Eck LLC bought a new stake in shares of Trinity Capital in the 3rd quarter valued at about $57,000. Trust Co. of Vermont bought a new stake in shares of Trinity Capital in the 4th quarter valued at about $101,000. Blue Trust Inc. increased its stake in shares of Trinity Capital by 522.1% in the 3rd quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock valued at $109,000 after acquiring an additional 6,474 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Trinity Capital by 9.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company’s stock valued at $152,000 after acquiring an additional 918 shares during the last quarter. 24.62% of the stock is owned by institutional investors.

Trinity Capital Price Performance

NASDAQ TRIN opened at $15.85 on Friday. The business has a 50 day simple moving average of $14.85 and a 200 day simple moving average of $14.32. Trinity Capital Inc. has a 52-week low of $13.05 and a 52-week high of $16.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market cap of $933.72 million, a price-to-earnings ratio of 9.27 and a beta of 0.56.

Trinity Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.04 dividend on an annualized basis and a yield of 12.87%. Trinity Capital’s payout ratio is 119.30%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $13.00 price target on shares of Trinity Capital in a research note on Monday, December 2nd.

Trinity Capital Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.