Taitron Components (NASDAQ:TAIT) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Shares of Taitron Components Incorporated (NASDAQ:TAIT) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.59 and traded as low as $1.56. Taitron Components shares last traded at $1.68, with a volume of 9,003 shares traded.

Taitron Components Stock Down 1.2%

The firm has a market capitalization of $9.69 million, a P/E ratio of -10.06 and a beta of 0.51. The stock has a fifty day moving average of $1.59 and a 200-day moving average of $1.55.

Taitron Components Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend was Friday, May 15th. Taitron Components’s dividend payout ratio (DPR) is currently -175.00%.

Institutional Trading of Taitron Components

A hedge fund recently bought a new position in Taitron Components stock. Virtu Financial LLC bought a new position in shares of Taitron Components Incorporated (NASDAQ:TAIT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,312 shares of the company’s stock, valued at approximately $43,000. Virtu Financial LLC owned about 0.29% of Taitron Components at the end of the most recent quarter. 18.09% of the stock is currently owned by hedge funds and other institutional investors.

About Taitron Components

Taitron Components, Inc is a distributor of electronic components serving original equipment manufacturers (OEMs) and contract manufacturers. The company offers a broad range of passive, active and electromechanical components, including capacitors, resistors, inductors, connectors and circuit protection devices, as well as semiconductors, diodes, transistors and optoelectronic products.

In addition to its standard distribution services, Taitron provides value-added offerings such as inventory management, consignment programs, kitting, testing and drop-ship services.