Short Interest in Sound Point Meridian Capital, Inc. (NYSE:SPMC) Decreases By 66.9%

Sound Point Meridian Capital, Inc. (NYSE:SPMC) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 4,000 shares, a decrease of 66.9% from the March 15th total of 12,100 shares. Based on an average daily volume of 35,300 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

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. boosted its holdings in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC) by 15.6% during the 4th quarter, according to its most recent 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 period. Oppenheimer & Co. Inc. owned approximately 0.08% of Sound Point Meridian Capital worth $333,000 as of its most recent filing with the SEC.

Sound Point Meridian Capital Stock Up 1.7 %

NYSE:SPMC traded up $0.31 during trading hours on Tuesday, hitting $18.65. The company had a trading volume of 29,011 shares, compared to its average volume of 26,986. Sound Point Meridian Capital has a 1 year low of $16.26 and a 1 year high of $22.30. The company has a 50-day moving average of $20.40 and a 200 day moving average of $20.26.

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

Sound Point Meridian Capital Dividend Announcement

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

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.