Orchid Island Capital, Inc. (NYSE:ORC) Sees Significant Drop in Short Interest

Orchid Island Capital, Inc. (NYSE:ORC) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 3,000,000 shares, a decrease of 21.3% from the March 31st total of 3,810,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the short-interest ratio is presently 2.6 days. Currently, 5.7% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Orchid Island Capital by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,120,928 shares of the real estate investment trust’s stock valued at $18,049,000 after acquiring an additional 53,652 shares during the period. Invesco Ltd. lifted its position in Orchid Island Capital by 33.6% during the third quarter. Invesco Ltd. now owns 2,073,998 shares of the real estate investment trust’s stock valued at $17,650,000 after purchasing an additional 521,401 shares during the period. Wolverine Asset Management LLC boosted its holdings in Orchid Island Capital by 299.7% in the third quarter. Wolverine Asset Management LLC now owns 914,125 shares of the real estate investment trust’s stock worth $7,779,000 after purchasing an additional 685,424 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in Orchid Island Capital in the 3rd quarter worth approximately $4,648,000. Finally, EMG Holdings L.P. purchased a new stake in Orchid Island Capital during the 4th quarter valued at $4,364,000. 32.74% of the stock is owned by institutional investors.

Orchid Island Capital Price Performance

NYSE ORC traded up $0.33 during mid-day trading on Friday, reaching $8.72. The stock had a trading volume of 2,125,554 shares, compared to its average volume of 959,826. Orchid Island Capital has a 1 year low of $5.90 and a 1 year high of $11.27. The company has a fifty day moving average price of $8.58 and a 200 day moving average price of $8.07.

Orchid Island Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be paid a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 16.51%. The ex-dividend date is Monday, April 29th. Orchid Island Capital’s dividend payout ratio is currently -271.70%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, April 18th. StockNews.com raised shares of Orchid Island Capital to a “sell” rating in a research report on Friday, February 9th.

About Orchid Island Capital

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.