Apollo Tactical Income Fund Inc (NYSE:AIF) Sees Large Increase in Short Interest

Apollo Tactical Income Fund Inc (NYSE:AIF) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 2,000 shares, an increase of 42.9% from the September 15th total of 1,400 shares. Based on an average trading volume of 58,700 shares, the days-to-cover ratio is currently 0.0 days.

Shares of Apollo Tactical Income Fund stock traded down $0.05 during midday trading on Friday, reaching $12.87. The company had a trading volume of 66,361 shares, compared to its average volume of 75,792. The stock has a fifty day moving average price of $12.83 and a 200 day moving average price of $12.25. Apollo Tactical Income Fund has a fifty-two week low of $8.28 and a fifty-two week high of $15.89.

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 19th will be paid a $0.068 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date is Friday, October 16th.

Separately, TD Securities lifted their price objective on Apollo Tactical Income Fund from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. acquired a new position in Apollo Tactical Income Fund in the third quarter valued at approximately $242,000. CNH Partners LLC lifted its stake in Apollo Tactical Income Fund by 154.3% in the second quarter. CNH Partners LLC now owns 30,542 shares of the company’s stock valued at $379,000 after buying an additional 18,534 shares during the period. Financial Advocates Investment Management acquired a new position in Apollo Tactical Income Fund in the second quarter valued at approximately $200,000. Thomas J. Herzfeld Advisors Inc. lifted its stake in Apollo Tactical Income Fund by 6.8% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 301,414 shares of the company’s stock valued at $3,786,000 after buying an additional 19,176 shares during the period. Finally, Shaker Financial Services LLC lifted its stake in Apollo Tactical Income Fund by 19.2% in the second quarter. Shaker Financial Services LLC now owns 229,970 shares of the company’s stock valued at $2,856,000 after buying an additional 37,079 shares during the period.

Apollo Tactical Income Fund Company Profile

Apollo Tactical Income Fund Inc is a closed-ended fixed income fund launched and managed by Apollo Credit Management, LLC. The fund invests in fixed income markets. It primarily invests in senior secured loans including floating rate senior loans, high yield corporate bonds, and other credit instruments of varying maturities made to companies whose debt is typically rated below investment grade.

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