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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Wednesday, May 20th. Shareholders of record on Wednesday, July 15th will be paid a dividend of 0.20 per share on Friday, July 31st. This represents a c) annualized dividend and a yield of 22.7%. The ex-dividend date is Wednesday, July 15th.

Sound Point Meridian Capital Price Performance

Shares of NYSE SPMC opened at $10.55 on Thursday. The stock has a market capitalization of $216.26 million, a PE ratio of -2.99 and a beta of 1.01. The business has a fifty day moving average price of $9.84 and a two-hundred day moving average price of $12.30. Sound Point Meridian Capital has a fifty-two week low of $8.36 and a fifty-two week 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 stock in a transaction dated Thursday, April 30th. The stock was bought at an average price 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Sound Point Meridian Capital

A number of institutional investors have recently modified their holdings of SPMC. Thomas J. Herzfeld Advisors Inc. acquired a new position in shares of Sound Point Meridian Capital during the 4th quarter worth $189,000. Citadel Advisors LLC acquired a new position in shares of Sound Point Meridian Capital during the 3rd quarter worth $267,000. Virtus Investment Advisers LLC raised its holdings in shares of Sound Point Meridian Capital by 7.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 29,620 shares of the company’s stock worth $407,000 after buying an additional 2,061 shares in the last quarter. Everest Management Corp. raised its holdings in shares of Sound Point Meridian Capital by 5.6% during the 4th quarter. Everest Management Corp. now owns 79,798 shares of the company’s stock worth $1,097,000 after buying an additional 4,243 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Sound Point Meridian Capital by 35.4% during the 2nd quarter. Marshall Wace LLP now owns 77,152 shares of the company’s stock worth $1,379,000 after buying an additional 20,163 shares in the last quarter.

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.