Thomas J. Herzfeld Advisors Inc. Reduces Stake in Sound Point Meridian Capital, Inc. (NYSE:SPMC)

Thomas J. Herzfeld Advisors Inc. trimmed its holdings in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC) by 20.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 334,544 shares of the company’s stock after selling 87,155 shares during the quarter. Sound Point Meridian Capital accounts for approximately 2.2% of Thomas J. Herzfeld Advisors Inc.’s holdings, making the stock its 9th biggest holding. Thomas J. Herzfeld Advisors Inc.’s holdings in Sound Point Meridian Capital were worth $6,992,000 at the end of the most recent quarter.

Separately, Oppenheimer & Co. Inc. increased its holdings in shares of Sound Point Meridian Capital by 15.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 15,920 shares of the company’s stock valued at $333,000 after acquiring an additional 2,145 shares during the period.

Wall Street Analyst Weigh In

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

Sound Point Meridian Capital Price Performance

NYSE:SPMC opened at $19.91 on Tuesday. Sound Point Meridian Capital, Inc. has a 52 week low of $18.20 and a 52 week high of $22.30. The firm has a 50 day moving average of $20.83 and a 200 day moving average of $20.35.

Sound Point Meridian Capital (NYSE:SPMC) last posted its quarterly earnings data 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 Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 15.07%.

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.