FTAI Aviation (NASDAQ:FTAIM) Shares Down 0.3% – Here’s Why

FTAI Aviation Ltd. (NASDAQ:FTAIM) shares were down 0.3% during mid-day trading on Thursday . The stock traded as low as $26.86 and last traded at $27.03. 3,614 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 5,348 shares. The stock had previously closed at $27.12.

FTAI Aviation Stock Performance

The stock’s 50-day simple moving average is $26.96 and its 200 day simple moving average is $27.02.

FTAI Aviation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.5938 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 8.8%. This is a positive change from FTAI Aviation’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, June 1st.

Institutional Investors Weigh In On FTAI Aviation

A hedge fund recently raised its position in FTAI Aviation stock. Shikiar Asset Management Inc. boosted its position in FTAI Aviation Ltd. (NASDAQ:FTAIM) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,930 shares of the company’s stock after purchasing an additional 2,900 shares during the period. FTAI Aviation comprises approximately 1.3% of Shikiar Asset Management Inc.’s holdings, making the stock its 25th largest position. Shikiar Asset Management Inc.’s holdings in FTAI Aviation were worth $4,352,000 at the end of the most recent quarter.

About FTAI Aviation

FTAI Aviation Ltd., trading on the NASDAQ under the symbol FTAIM, is a publicly listed holding company that offers investors exposure to the commercial aviation sector through its wholly owned operating subsidiary, Azorra Aviation. The company’s core business is centered on acquiring, leasing and trading narrowbody aircraft, with a fleet predominantly comprised of Airbus A320- and Boeing 737-family jets. Through long-term lease agreements, sale-and-leaseback transactions and selective asset disposals, FTAI Aviation seeks to generate predictable rental streams and capture residual value appreciation over the life cycle of each aircraft.

FTAI Aviation emerged in mid-2021 following the completion of a business combination with Azorra Aviation and the subsequent rebranding of its former sponsor, FTAI Infrastructure.