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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 12,100 shares, an increase of 450.0% from the February 28th total of 2,200 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 29,900 shares, the days-to-cover ratio is presently 0.4 days.

Sound Point Meridian Capital Trading Down 0.2 %

Shares of NYSE SPMC traded down $0.04 during mid-day trading on Friday, hitting $19.80. 37,606 shares of the stock traded hands, compared to its average volume of 32,871. Sound Point Meridian Capital has a twelve month low of $18.20 and a twelve month high of $22.30. The firm has a 50 day simple moving average of $20.85 and a two-hundred day simple moving average of $20.35.

Sound Point Meridian Capital (NYSE:SPMC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate 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. Investors of record on Tuesday, April 15th will be given a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a yield of 15.15%. The ex-dividend date is Tuesday, April 15th.

Analyst Ratings Changes

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

Institutional Trading of Sound Point Meridian Capital

A hedge fund recently bought a new stake in Sound Point Meridian Capital stock. Marshall Wace LLP purchased a new position in Sound Point Meridian Capital, Inc. (NYSE:SPMC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,747 shares of the company’s stock, valued at approximately $371,000. Marshall Wace LLP owned 0.09% of Sound Point Meridian Capital as of its most recent filing with the Securities and Exchange Commission.

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.