Sound Point Meridian Capital, Inc. (NYSE:SPMC) Short Interest Up 105.0% in April

Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 8,200 shares, a growth of 105.0% from the March 31st total of 4,000 shares. Approximately 0.0% of the company's stock are short sold. Based on an average daily volume of 36,200 shares, the short-interest ratio is currently 0.2 days.

Sound Point Meridian Capital Stock Performance

Shares of SPMC traded up $0.38 during trading on Friday, reaching $19.15. The company's stock had a trading volume of 16,769 shares, compared to its average volume of 26,512. The company has a fifty day moving average of $19.64 and a two-hundred day moving average of $20.14. Sound Point Meridian Capital has a twelve month low of $16.26 and a twelve month high of $22.30.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.11.

Sound Point Meridian Capital Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $3.00 annualized dividend and a dividend yield of 15.67%.

Analysts Set New Price Targets

Separately, B. Riley raised shares of Sound Point Meridian Capital to a "strong-buy" rating in a report on Tuesday, January 7th.

Hedge Funds Weigh In On Sound Point Meridian Capital

Hedge funds have recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its position in shares of Sound Point Meridian Capital by 15.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 15,920 shares of the company's stock worth $333,000 after acquiring an additional 2,145 shares in the last quarter. Marshall Wace LLP bought a new position in Sound Point Meridian Capital during the fourth quarter worth $371,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Sound Point Meridian Capital by 8.6% in the first quarter. Envestnet Asset Management Inc. now owns 145,851 shares of the company's stock worth $2,908,000 after purchasing an additional 11,602 shares during the period.

Sound Point Meridian Capital Company Profile

Sound Point Meridian Capital Inc is an externally managed, non-diversified closed-end management investment company. Its investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in third-party collateralized loan obligation equity and mezzanine tranches.