Taitron Components (NASDAQ:TAIT) Share Price Passes Below 50-Day Moving Average – Here’s Why

Taitron Components Incorporated (NASDAQ:TAIT)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $1.59 and traded as low as $1.56. Taitron Components shares last traded at $1.68, with a volume of 9,003 shares changing hands.

Taitron Components Stock Performance

The company has a 50 day moving average of $1.59 and a 200 day moving average of $1.54. The firm has a market cap of $10.12 million, a P/E ratio of -10.50 and a beta of 0.51.

Taitron Components Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend was Friday, May 15th. Taitron Components’s payout ratio is currently -175.00%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Taitron Components stock. Virtu Financial LLC bought a new position in shares of Taitron Components Incorporated (NASDAQ:TAIT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,312 shares of the company’s stock, valued at approximately $43,000. Virtu Financial LLC owned about 0.29% of Taitron Components at the end of the most recent reporting period. 18.09% of the stock is currently owned by institutional investors and hedge funds.

Taitron Components Company Profile

Taitron Components, Inc is a distributor of electronic components serving original equipment manufacturers (OEMs) and contract manufacturers. The company offers a broad range of passive, active and electromechanical components, including capacitors, resistors, inductors, connectors and circuit protection devices, as well as semiconductors, diodes, transistors and optoelectronic products.

In addition to its standard distribution services, Taitron provides value-added offerings such as inventory management, consignment programs, kitting, testing and drop-ship services.