Tectonic Financial (NASDAQ:TECTP) Trading 0.1% Higher – Time to Buy?

Tectonic Financial, Inc. (NASDAQ:TECTP) shares were up 0.1% during mid-day trading on Friday . The company traded as high as $10.30 and last traded at $10.25. Approximately 17,859 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 33,993 shares. The stock had previously closed at $10.24.

Tectonic Financial Trading Up 0.1%

The stock has a 50-day simple moving average of $11.00 and a 200 day simple moving average of $10.87.

Tectonic Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Friday, November 7th were paid a dividend of $0.2923 per share. This is a positive change from Tectonic Financial’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 11.4%.

About Tectonic Financial

Tectonic Financial (NASDAQ: TECTP) is a special purpose acquisition company (SPAC) formed to identify, acquire and combine with one or more businesses in the financial technology sector. Incorporated in Delaware, the company completed its initial public offering on the Nasdaq exchange, where it raised capital to pursue merger opportunities with innovative fintech enterprises. As a blank‐check vehicle, Tectonic Financial has no commercial operations of its own but instead works through its management team and board advisors to source target companies that exhibit strong growth potential, scalable business models and strategic alignment with evolving digital finance trends.

The company’s main activities involve conducting rigorous due diligence on prospective targets, structuring transactions and managing the business combination process under the rules governing SPACs in the United States.