Sound Point Meridian Capital, Inc. (NYSE:SPMC) Short Interest Down 66.9% in March

Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 4,000 shares, a decrease of 66.9% from the March 15th total of 12,100 shares. Approximately 0.0% of the company's stock are short sold. Based on an average daily trading volume, of 35,300 shares, the days-to-cover ratio is currently 0.1 days.

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

A hedge fund recently raised its stake in Sound Point Meridian Capital stock. Oppenheimer & Co. Inc. grew its position in Sound Point Meridian Capital, Inc. (NYSE:SPMC - Free Report) by 15.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,920 shares of the company's stock after purchasing an additional 2,145 shares during the period. Oppenheimer & Co. Inc. owned approximately 0.08% of Sound Point Meridian Capital worth $333,000 as of its most recent SEC filing.

Sound Point Meridian Capital Trading Up 0.1 %

NYSE:SPMC traded up $0.03 during trading hours on Friday, reaching $18.03. 27,237 shares of the stock were exchanged, compared to its average volume of 26,935. The firm has a 50 day simple moving average of $20.19 and a 200-day simple moving average of $20.21. Sound Point Meridian Capital has a 52 week low of $16.26 and a 52 week high of $22.30.

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

Sound Point Meridian Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 16.64%. The ex-dividend date of this dividend is Tuesday, April 15th.

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.