Blackstone Secured Lending Fund (NYSE:BXSL) Sees Significant Growth in Short Interest

Blackstone Secured Lending Fund (NYSE:BXSL) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,570,000 shares, a growth of 15.8% from the November 30th total of 2,220,000 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average trading volume of 998,000 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BXSL. Wells Fargo & Company lowered shares of Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 target price for the company. in a research note on Monday, December 2nd. Compass Point reduced their price objective on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating for the company in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Blackstone Secured Lending Fund presently has an average rating of “Moderate Buy” and a consensus target price of $31.54.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently bought and sold shares of BXSL. Ensign Peak Advisors Inc increased its stake in shares of Blackstone Secured Lending Fund by 51.7% in the second quarter. Ensign Peak Advisors Inc now owns 5,035,082 shares of the company’s stock worth $154,174,000 after acquiring an additional 1,715,357 shares during the last quarter. Van ECK Associates Corp increased its position in Blackstone Secured Lending Fund by 10.9% in the 3rd quarter. Van ECK Associates Corp now owns 3,527,608 shares of the company’s stock worth $109,814,000 after purchasing an additional 346,894 shares during the last quarter. Northeast Financial Consultants Inc raised its stake in shares of Blackstone Secured Lending Fund by 12.5% during the 3rd quarter. Northeast Financial Consultants Inc now owns 2,096,848 shares of the company’s stock worth $61,417,000 after purchasing an additional 232,379 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Blackstone Secured Lending Fund by 2.1% during the 3rd quarter. HighTower Advisors LLC now owns 1,125,528 shares of the company’s stock valued at $32,938,000 after buying an additional 23,386 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Blackstone Secured Lending Fund by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,032,508 shares of the company’s stock valued at $30,242,000 after buying an additional 46,771 shares in the last quarter. Hedge funds and other institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Stock Performance

NYSE BXSL opened at $32.31 on Wednesday. The firm’s 50 day moving average price is $31.73 and its two-hundred day moving average price is $30.81. Blackstone Secured Lending Fund has a twelve month low of $27.54 and a twelve month high of $33.48. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 8.98 and a beta of 0.43.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Tuesday, December 31st will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 9.53%. The ex-dividend date is Tuesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio is currently 85.56%.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).