Choreo LLC Has $878,000 Stock Holdings in Sound Point Meridian Capital, Inc. (NYSE:SPMC)

Choreo LLC reduced its position in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,869 shares of the company’s stock after selling 832 shares during the period. Choreo LLC owned about 0.21% of Sound Point Meridian Capital worth $878,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Oppenheimer & Co. Inc. acquired a new stake in Sound Point Meridian Capital during the 3rd quarter worth approximately $272,000.

Wall Street Analysts Forecast Growth

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

Sound Point Meridian Capital Stock Down 0.1 %

Shares of SPMC opened at $20.91 on Monday. The stock’s 50-day moving average price is $20.64 and its two-hundred day moving average price is $20.04. Sound Point Meridian Capital, Inc. has a 12 month low of $18.20 and a 12 month high of $21.97.

Sound Point Meridian Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 14.35%. The ex-dividend date of this dividend is Friday, June 13th.

Insider Activity at Sound Point Meridian Capital

In other news, Chairman Stephen Ketchum purchased 4,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average price of $20.32 per share, for a total transaction of $81,280.00. Following the transaction, the chairman now owns 23,326 shares of the company’s stock, valued at approximately $473,984.32. This trade represents a 20.70 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased 6,000 shares of company stock worth $121,850 over the last ninety days.

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.