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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 2,200 shares, a decline of 67.2% from the February 13th total of 6,700 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 27,600 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Sound Point Meridian Capital

An institutional investor recently bought a new position in Sound Point Meridian Capital stock. Oppenheimer & Co. Inc. purchased a new stake in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 13,775 shares of the company’s stock, valued at approximately $272,000.

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 Stock Performance

NYSE SPMC traded down $0.33 on Friday, reaching $20.82. The company had a trading volume of 26,540 shares, compared to its average volume of 33,766. The firm’s 50 day moving average price is $20.91 and its 200 day moving average price is $20.31. Sound Point Meridian Capital has a 12 month low of $18.20 and a 12 month high of $22.30.

Sound Point Meridian Capital (NYSE:SPMC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 14.41%.

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.