AFC Gamma, Inc. (NASDAQ:AFCG – Get Free Report) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 639,700 shares, an increase of 8.0% from the October 15th total of 592,100 shares. Currently, 4.1% of the shares of the stock are sold short. Based on an average daily volume of 124,300 shares, the short-interest ratio is currently 5.1 days.
AFC Gamma Stock Performance
NASDAQ AFCG opened at $11.14 on Friday. The stock has a market capitalization of $227.92 million, a P/E ratio of 6.92 and a beta of 1.04. AFC Gamma has a 1 year low of $9.91 and a 1 year high of $17.72. The business’s fifty day moving average is $11.55 and its two-hundred day moving average is $12.20.
AFC Gamma Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Saturday, September 30th were issued a $0.48 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 17.24%. AFC Gamma’s dividend payout ratio is 119.25%.
Institutional Inflows and Outflows
AFC Gamma Company Profile
AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states that have legalized medical and/or adult use cannabis. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.
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