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Orchid Island Capital, Inc. (ORC) cut its monthly dividend from $0.12 to $0.10 on April 16th and recently announced earnings. Since the dividend cut, the stock has set a new 52-week low, closing at $6.76. While this dividend cut is a
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Analyst’s Disclosure: I/we have a beneficial long position in the shares of ORC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
I have a long position in ORC stock and write covered calls or sell cash-secured puts from time to time. I currently do not have any open option positions but have a "sell to open" order in for June 18 calls at a $7.50 strike price that could execute while this article is under review if the market opens before publication.
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