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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 4,400 shares, a decrease of 48.8% from the January 15th total of 8,600 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 24,900 shares, the short-interest ratio is presently 0.2 days.

Sound Point Meridian Capital Stock Performance

Shares of SPMC stock traded up $0.33 during trading hours on Thursday, reaching $21.88. 35,297 shares of the company’s stock were exchanged, compared to its average volume of 30,708. Sound Point Meridian Capital has a 1 year low of $18.20 and a 1 year high of $22.24. The company’s 50 day moving average is $20.67 and its two-hundred day moving average is $20.07.

Sound Point Meridian Capital (NYSE:SPMC) last issued its earnings results on Wednesday, February 12th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.51 by $0.11.

Sound Point Meridian Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 13.71%. The ex-dividend date of this dividend is Friday, June 13th.

Wall Street Analyst Weigh In

Separately, B. Riley upgraded shares of Sound Point Meridian Capital to a “strong-buy” rating in a research note on Tuesday, January 7th.

Insider Buying and Selling

In related news, Chairman Stephen Ketchum acquired 4,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were bought at an average price of $20.32 per share, with a total value of $81,280.00. Following the completion of the acquisition, the chairman now owns 23,326 shares in the company, valued at $473,984.32. This trade represents a 20.70 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have bought 6,000 shares of company stock worth $121,850.

Institutional Trading of Sound Point Meridian Capital

A hedge fund recently bought a new stake in Sound Point Meridian Capital stock. Oppenheimer & Co. Inc. purchased a new position in Sound Point Meridian Capital, Inc. (NYSE:SPMC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,775 shares of the company’s stock, valued at approximately $272,000.

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.