Sound Point Meridian Capital, Inc. (NYSE:SPMC) Sees Significant Decrease in Short Interest

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

Sound Point Meridian Capital Trading Up 0.1 %

NYSE:SPMC traded up $0.03 during mid-day trading on Friday, hitting $18.03. 27,237 shares of the company's stock were exchanged, compared to its average volume of 26,935. The business has a fifty day moving average price of $20.19 and a 200 day moving average price of $20.21. Sound Point Meridian Capital has a one year low of $16.26 and a one year high of $22.30.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 16.64%. The ex-dividend date is Tuesday, April 15th.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sound Point Meridian Capital stock. Oppenheimer & Co. Inc. increased its position in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC - Free Report) by 15.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,920 shares of the company's stock after purchasing an additional 2,145 shares during the period. Oppenheimer & Co. Inc. owned 0.08% of Sound Point Meridian Capital worth $333,000 at the end of the most recent reporting period.

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.