Short Interest in Sound Point Meridian Capital, Inc. (NYSE:SPMC) Drops By 67.2%

Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 2,200 shares, a decrease of 67.2% from the February 13th total of 6,700 shares. Based on an average daily volume of 27,600 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company's shares are short sold.

Wall Street Analyst Weigh In

Separately, B. Riley raised Sound Point Meridian Capital to a "strong-buy" rating in a research report on Tuesday, January 7th.

Sound Point Meridian Capital Trading Up 1.4 %

NYSE SPMC traded up $0.29 during trading on Monday, reaching $21.11. 8,351 shares of the company's stock traded hands, compared to its average volume of 33,249. Sound Point Meridian Capital has a 12-month low of $18.20 and a 12-month high of $22.30. The company's 50 day simple moving average is $20.91 and its two-hundred day simple moving average is $20.32.

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

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Sound Point Meridian Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $3.00 annualized dividend and a dividend yield of 14.21%.

Hedge Funds Weigh In On Sound Point Meridian Capital

An institutional investor recently bought a new position in Sound Point Meridian Capital stock. Oppenheimer & Co. Inc. bought a new stake in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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.