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) dividend on an annualized basis and a yield of 22.7%. The ex-dividend date is Wednesday, July 15th.

Sound Point Meridian Capital Stock Up 2.2%

Shares of SPMC opened at $10.55 on Thursday. Sound Point Meridian Capital has a 12-month low of $8.36 and a 12-month high of $18.60. The business has a 50-day simple moving average of $9.84 and a two-hundred day simple moving average of $12.30. The stock has a market cap of $216.26 million, a PE ratio of -2.99 and a beta of 1.01.

Insider Buying and Selling at Sound Point Meridian Capital

In related news, major shareholder Guaranty Ltd Assured purchased 242,718 shares of the firm’s 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 completion of the purchase, the insider owned 1,002,718 shares in the company, valued at approximately $24,787,188.96. This represents a 31.94% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Sound Point Meridian Capital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of Sound Point Meridian Capital in the fourth quarter valued at about $189,000. Citadel Advisors LLC acquired a new stake in shares of Sound Point Meridian Capital in the third quarter valued at about $267,000. Virtus Investment Advisers LLC increased its stake in shares of Sound Point Meridian Capital by 7.5% in the fourth quarter. Virtus Investment Advisers LLC now owns 29,620 shares of the company’s stock valued at $407,000 after buying an additional 2,061 shares during the period. Everest Management Corp. increased its stake in shares of Sound Point Meridian Capital by 3.7% in the third quarter. Everest Management Corp. now owns 75,555 shares of the company’s stock valued at $1,311,000 after buying an additional 2,697 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Sound Point Meridian Capital by 35.4% in the second quarter. Marshall Wace LLP now owns 77,152 shares of the company’s stock valued at $1,379,000 after buying an additional 20,163 shares during the period.

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.