Thomas J. Herzfeld Advisors Inc. Has $6.99 Million Stock Position in Sound Point Meridian Capital, Inc. (NYSE:SPMC)

Thomas J. Herzfeld Advisors Inc. decreased its holdings in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC - Free Report) by 20.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 334,544 shares of the company's stock after selling 87,155 shares during the quarter. Sound Point Meridian Capital makes up 2.2% of Thomas J. Herzfeld Advisors Inc.'s holdings, making the stock its 9th biggest position. Thomas J. Herzfeld Advisors Inc. owned about 1.65% of Sound Point Meridian Capital worth $6,992,000 as of its most recent SEC filing.

Separately, Oppenheimer & Co. Inc. increased its stake in shares of 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 purchasing an additional 2,145 shares during the period.

Sound Point Meridian Capital Price Performance

Sound Point Meridian Capital stock traded down $3.12 during midday trading on Friday, hitting $17.11. The company's stock had a trading volume of 160,343 shares, compared to its average volume of 26,762. Sound Point Meridian Capital, Inc. has a 1-year low of $17.11 and a 1-year high of $22.30. The company has a 50-day moving average price of $20.77 and a two-hundred day moving average price of $20.34.

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

Sound Point Meridian Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, April 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 17.53%.

Analyst Ratings Changes

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

Sound Point Meridian Capital 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.