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

Tectonic Financial, Inc. (NASDAQ:TECTP) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 2,600 shares, a decline of 29.7% from the February 28th total of 3,700 shares. Based on an average daily volume of 2,800 shares, the days-to-cover ratio is presently 0.9 days.

Tectonic Financial Price Performance

Shares of TECTP opened at $10.45 on Friday. Tectonic Financial has a 1 year low of $9.95 and a 1 year high of $11.68. The firm has a fifty day moving average of $10.45 and a 200-day moving average of $10.41.

Tectonic Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were given a $0.3036 dividend. This represents a $1.21 annualized dividend and a yield of 11.62%. The ex-dividend date of this dividend was Friday, February 7th.

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.