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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) saw a significant decline in short interest in 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. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 35,300 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

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

Sound Point Meridian Capital Trading Down 3.5 %

Shares of SPMC traded down $0.66 during mid-day trading on Wednesday, reaching $17.99. The company had a trading volume of 16,067 shares, compared to its average volume of 26,934. The company’s 50-day moving average is $20.30 and its 200-day moving average is $20.23. Sound Point Meridian Capital has a twelve month low of $16.26 and a twelve month high of $22.30.

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

Sound Point Meridian Capital Announces Dividend

The firm 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 $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 16.68%. The ex-dividend date of this dividend is Tuesday, April 15th.

Institutional Investors Weigh In On Sound Point Meridian Capital

A hedge fund recently raised its stake in Sound Point Meridian Capital stock. Oppenheimer & Co. Inc. lifted its stake in Sound Point Meridian Capital, Inc. (NYSE:SPMC) by 15.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,920 shares of the company’s stock after buying an additional 2,145 shares during the period. Oppenheimer & Co. Inc. owned approximately 0.08% of Sound Point Meridian Capital worth $333,000 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.