LMP Capital and Income Fund (NYSE:SCD) Shares Cross Above 50-Day Moving Average – Here’s Why

LMP Capital and Income Fund Inc. (NYSE:SCD)’s share price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $15.16 and traded as high as $15.19. LMP Capital and Income Fund shares last traded at $15.19, with a volume of 58,800 shares trading hands.

LMP Capital and Income Fund Stock Down 0.7%

The stock has a 50 day moving average of $15.14 and a 200-day moving average of $15.36.

LMP Capital and Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 26th. Stockholders of record on Wednesday, February 17th will be paid a $0.1325 dividend. The ex-dividend date is Wednesday, February 17th. This represents a $1.59 annualized dividend and a dividend yield of 10.4%.

Institutional Investors Weigh In On LMP Capital and Income Fund

Institutional investors have recently made changes to their positions in the stock. Z3 Capital Partners LLC increased its position in shares of LMP Capital and Income Fund by 1.3% during the second quarter. Z3 Capital Partners LLC now owns 425,705 shares of the real estate investment trust’s stock valued at $6,662,000 after buying an additional 5,366 shares during the period. Royal Bank of Canada boosted its position in shares of LMP Capital and Income Fund by 4.7% in the first quarter. Royal Bank of Canada now owns 80,692 shares of the real estate investment trust’s stock valued at $1,205,000 after acquiring an additional 3,630 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of LMP Capital and Income Fund by 1.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 66,697 shares of the real estate investment trust’s stock valued at $996,000 after acquiring an additional 1,200 shares during the period. NewEdge Advisors LLC boosted its position in shares of LMP Capital and Income Fund by 3.8% in the second quarter. NewEdge Advisors LLC now owns 47,911 shares of the real estate investment trust’s stock valued at $750,000 after acquiring an additional 1,732 shares during the period. Finally, International Assets Investment Management LLC grew its stake in LMP Capital and Income Fund by 51.0% during the third quarter. International Assets Investment Management LLC now owns 47,000 shares of the real estate investment trust’s stock valued at $693,000 after acquiring an additional 15,874 shares in the last quarter.

About LMP Capital and Income Fund

LMP Capital and Income Fund Inc (NYSE: SCD) is a diversified closed-end management investment company that seeks to provide investors with a high level of current income, along with the opportunity for capital appreciation.

The fund invests primarily in a combination of equity and fixed-income securities. Its portfolio may include common stocks, preferred stocks, convertible securities, corporate debt, government securities and other income-producing investments. The fund can invest across industries and geographic markets, giving it flexibility to pursue income and growth opportunities in both domestic and international markets.

LMP Capital and Income Fund has historical ties to the Legg Mason investment-management organization and is managed within the Franklin Templeton family following Franklin Templeton’s acquisition of Legg Mason.