New Mountain Finance Co. 8.250% Notes due 2028 (NASDAQ:NMFCZ) Shares Shorted: Short Interest Up 117.8% in October

New Mountain Finance Co. 8.250% Notes due 2028 (NASDAQ:NMFCZ) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 2,611 shares, an increase of 117.8% from the September 30th total of 1,199 shares. Based on an average daily trading volume, of 7,601 shares, the days-to-cover ratio is presently 0.3 days.

New Mountain Finance Co. 8.250% Notes due 2028 Trading Down 1.6%

Shares of New Mountain Finance Co. 8.250% Notes due 2028 stock traded down $0.41 during midday trading on Friday, hitting $25.01. The company had a trading volume of 31,035 shares, compared to its average volume of 10,968. The business’s 50 day simple moving average is $25.32 and its two-hundred day simple moving average is $25.33. 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.

New Mountain Finance Co. 8.250% Notes due 2028 Announces Dividend

The business also recently declared 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.