Sound Point Meridian Capital, Inc. (NYSE:SPMC) Short Interest Up 25.8% in May

Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 7,800 shares, an increase of 25.8% from the May 15th total of 6,200 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 29,000 shares, the short-interest ratio is presently 0.3 days.

Sound Point Meridian Capital Stock Down 0.8%

NYSE SPMC traded down $0.13 during trading hours on Wednesday, reaching $17.10. The company's stock had a trading volume of 28,100 shares, compared to its average volume of 24,145. Sound Point Meridian Capital has a 1 year low of $16.26 and a 1 year high of $22.30. The firm's 50-day moving average price is $18.47 and its 200-day moving average price is $19.85.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.06. The firm had revenue of $22.66 million for the quarter, compared to analysts' expectations of $20.48 million.

Sound Point Meridian Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 17.54%. The ex-dividend date is Monday, September 15th.

Hedge Funds Weigh In On Sound Point Meridian Capital

Several large investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. grew its position in Sound Point Meridian Capital by 15.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 15,920 shares of the company's stock valued at $333,000 after acquiring an additional 2,145 shares during the last quarter. Marshall Wace LLP bought a new position in Sound Point Meridian Capital in the 4th quarter valued at $371,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Sound Point Meridian Capital by 8.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 145,851 shares of the company's stock worth $2,908,000 after buying an additional 11,602 shares in the last quarter.

About Sound Point Meridian Capital

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.

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