New Mountain Finance Co. 8.250% Notes due 2028 (NASDAQ:NMFCZ – Get Free Report) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 2,611 shares, a growth of 117.8% from the September 30th total of 1,199 shares. Based on an average daily volume of 7,601 shares, the short-interest ratio is currently 0.3 days.
New Mountain Finance Co. 8.250% Notes due 2028 Price Performance
Shares of NASDAQ:NMFCZ traded down $0.37 during midday trading on Friday, reaching $25.05. The company had a trading volume of 28,418 shares, compared to its average volume of 10,945. New Mountain Finance Co. 8.250% Notes due 2028 has a 1-year low of $24.95 and a 1-year high of $25.68. The business’s 50 day moving average price is $25.33 and its 200 day moving average price is $25.33.
New Mountain Finance Co. 8.250% Notes due 2028 Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 30th will be issued a $0.5156 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.06 dividend on an annualized basis and a yield of 8.2%.
New Mountain Finance Corporation is a business development company that provides financing to middle-market businesses. The company is externally managed by New Mountain Finance Advisers LLC, an affiliate of New Mountain Capital, an investment firm focused on growth-oriented companies.
New Mountain Finance generally invests in privately held companies through senior secured loans, unitranche facilities, second-lien and unsecured debt, and selected equity investments. Its portfolio companies are typically established businesses operating in industries that New Mountain considers to have defensive or growth characteristics, including software, business services, healthcare, education, and other specialized sectors.
The company primarily serves businesses in the United States and seeks to generate income from its lending activities while also pursuing long-term capital appreciation through equity investments.
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