Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) was the recipient of a significant increase in short interest during the month of 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. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 29,000 shares, the days-to-cover ratio is currently 0.3 days.
Sound Point Meridian Capital Stock Performance
Shares of SPMC stock traded up $0.01 during trading on Friday, reaching $17.11. 38,327 shares of the company's stock traded hands, compared to its average volume of 23,788. The firm's 50-day moving average is $18.43 and its 200 day moving average is $19.81. Sound Point Meridian Capital has a 1 year low of $16.26 and a 1 year high of $22.30.
Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.06. The firm had revenue of $22.66 million for the quarter, compared to the consensus estimate of $20.48 million.
Sound Point Meridian Capital Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.00 annualized dividend and a yield of 17.54%.
Institutional Investors Weigh In On Sound Point Meridian Capital
Institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its position in Sound Point Meridian Capital by 15.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 15,920 shares of the company's stock valued at $333,000 after buying an additional 2,145 shares during the period. Marshall Wace LLP bought a new stake in Sound Point Meridian Capital during the fourth quarter valued at approximately $371,000. Finally, Envestnet Asset Management Inc. grew its position in Sound Point Meridian Capital by 8.6% during the first quarter. Envestnet Asset Management Inc. now owns 145,851 shares of the company's stock valued at $2,908,000 after buying an additional 11,602 shares during the period.
About Sound Point Meridian Capital
(
Get Free Report)
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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