Taitron Components (NASDAQ:TAIT) Shares Cross Above Fifty Day Moving Average – Here’s Why

Taitron Components Incorporated (NASDAQ:TAIT – Get Free Report) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.59 and traded as high as $1.67. Taitron Components shares last traded at $1.59, with a volume of 669 shares.

Taitron Components Stock Down 4.2%

The firm’s fifty day simple moving average is $1.59 and its 200-day simple moving average is $1.56. The company has a market cap of $9.57 million, a PE ratio of -9.94 and a beta of 0.51.

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Taitron Components Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.035 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.14 dividend on an annualized basis and a yield of 8.8%. Taitron Components’s dividend payout ratio is presently -175.00%.

Hedge Funds Weigh In On Taitron Components

A hedge fund recently bought a new position in Taitron Components stock. Virtu Financial LLC acquired a new stake in Taitron Components Incorporated (NASDAQ:TAIT – Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,312 shares of the company’s stock, valued at approximately $43,000. Virtu Financial LLC owned approximately 0.29% of Taitron Components as of its most recent SEC filing. Hedge funds and other institutional investors own 18.09% of the company’s stock.

Taitron Components Company Profile

(Get Free Report)

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.

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