Tectonic Financial, Inc. (NASDAQ:TECTP) Sees Significant Growth in Short Interest

Tectonic Financial, Inc. (NASDAQ:TECTP) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totalling 6,200 shares, a growth of 26.5% from the June 30th total of 4,900 shares. Based on an average daily trading volume, of 2,400 shares, the days-to-cover ratio is presently 2.6 days.

Tectonic Financial Stock Performance

NASDAQ TECTP traded up $0.03 during trading on Monday, hitting $10.40. 2,147 shares of the stock traded hands, compared to its average volume of 2,985. Tectonic Financial has a 12-month low of $9.80 and a 12-month high of $11.68. The firm has a 50-day simple moving average of $10.31 and a 200-day simple moving average of $10.24.

Tectonic Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 5th will be given a dividend of $0.3144 per share. This represents a $1.26 annualized dividend and a dividend yield of 12.09%. This is a boost from Tectonic Financial’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, August 5th.

Tectonic Financial Company Profile

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.