Sound Point Meridian Capital, Inc. (NYSE:SPMC) Declares Monthly Dividend of $0.20

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Wednesday, May 20th. Stockholders of record on Friday, August 14th will be given a dividend of 0.20 per share on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 22.7%. The ex-dividend date is Friday, August 14th.

Sound Point Meridian Capital Stock Performance

SPMC opened at $10.55 on Thursday. The company has a 50-day moving average of $9.84 and a 200-day moving average of $12.30. The company has a market capitalization of $216.26 million, a P/E ratio of -2.99 and a beta of 1.01. Sound Point Meridian Capital has a 1-year low of $8.36 and a 1-year high of $18.60.

Insider Activity at Sound Point Meridian Capital

In other Sound Point Meridian Capital news, major shareholder Guaranty Ltd Assured purchased 242,718 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was acquired at an average cost of $24.72 per share, with a total value of $5,999,988.96. Following the acquisition, the insider owned 1,002,718 shares of the company’s stock, valued at approximately $24,787,188.96. This represents a 31.94% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Virtus Investment Advisers LLC boosted its holdings in shares of Sound Point Meridian Capital by 7.5% in the 4th quarter. Virtus Investment Advisers LLC now owns 29,620 shares of the company’s stock valued at $407,000 after buying an additional 2,061 shares during the period. Thomas J. Herzfeld Advisors Inc. acquired a new position in Sound Point Meridian Capital during the 4th quarter valued at about $189,000. Everest Management Corp. boosted its stake in Sound Point Meridian Capital by 5.6% during the 4th quarter. Everest Management Corp. now owns 79,798 shares of the company’s stock valued at $1,097,000 after purchasing an additional 4,243 shares during the period. Citadel Advisors LLC acquired a new position in Sound Point Meridian Capital during the 3rd quarter valued at about $267,000. Finally, Kim LLC acquired a new position in Sound Point Meridian Capital during the 2nd quarter valued at about $192,821,000.

About Sound Point Meridian Capital

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. Sound Point Meridian Capital Inc is based in NEW YORK.