Sound Point Meridian Capital, Inc. (NYSE:SPMC) Short Interest Update

Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 6,200 shares, a growth of 129.6% from the April 30th total of 2,700 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily volume of 31,400 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Sound Point Meridian Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. raised its holdings in Sound Point Meridian Capital by 15.6% during the fourth 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 stake in Sound Point Meridian Capital during the fourth quarter worth $371,000. Finally, Envestnet Asset Management Inc. lifted its stake 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 valued at $2,908,000 after acquiring an additional 11,602 shares during the last quarter.

Sound Point Meridian Capital Price Performance

SPMC stock traded up $0.07 during trading hours on Tuesday, reaching $18.37. 16,332 shares of the stock were exchanged, compared to its average volume of 26,439. The firm's 50-day moving average is $18.73 and its 200-day moving average is $20.05. Sound Point Meridian Capital has a 12 month low of $16.26 and a 12 month high of $22.30.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.60 by $0.06. The firm had revenue of $22.66 million during the quarter, compared to the consensus estimate of $20.48 million.

Sound Point Meridian Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 16.33%. The ex-dividend date of this dividend is Monday, September 15th.

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.