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 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. Based on an average daily volume of 35,300 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

Sound Point Meridian Capital Trading Up 1.7 %

Shares of NYSE:SPMC traded up $0.31 on Tuesday, reaching $18.65. The company had a trading volume of 29,011 shares, compared to its average volume of 26,986. The firm’s 50 day simple moving average is $20.40 and its 200-day simple moving average is $20.26. Sound Point Meridian Capital has a 52-week low of $16.26 and a 52-week high of $22.30.

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

Sound Point Meridian Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, April 15th. This represents a $3.00 annualized dividend and a yield of 16.09%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sound Point Meridian Capital stock. Oppenheimer & Co. Inc. raised its holdings in Sound Point Meridian Capital, Inc. (NYSE:SPMC) by 15.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,920 shares of the company’s stock after purchasing an additional 2,145 shares during the quarter. Oppenheimer & Co. Inc. owned 0.08% of Sound Point Meridian Capital worth $333,000 at the end of the most recent reporting period.

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.