Tectonic Financial, Inc. (NASDAQ:TECTP) Sees Large Increase in Short Interest

Tectonic Financial, Inc. (NASDAQ:TECTP) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 2,200 shares, an increase of 69.2% from the February 29th total of 1,300 shares. Based on an average trading volume of 1,800 shares, the days-to-cover ratio is presently 1.2 days.

Tectonic Financial Price Performance

Tectonic Financial stock traded down $0.03 during midday trading on Thursday, reaching $10.13. The stock had a trading volume of 200 shares, compared to its average volume of 2,732. The stock’s 50-day simple moving average is $10.13 and its 200 day simple moving average is $10.09. Tectonic Financial has a twelve month low of $9.74 and a twelve month high of $10.43.

Tectonic Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a $0.225 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.90 dividend on an annualized basis and a yield of 8.89%.

About Tectonic Financial

Tectonic Financial, Inc, a financial holding company, provides banking and financial products and services to high net worth individuals, small businesses, and institutions in the United States. It offers commercial and consumer banking services, such as demand deposits, regular savings accounts, money market accounts, individual retirement accounts, and certificates of deposit; commercial and real estate loans, dental loans, commercial real estate, construction loans, and consumer installment loans; and wealth management and trust services.