Boston, MA 06/13/2013 (wallstreetpr) - The share prices of Neutral Tandem Inc (NASDAQ:IQNT) had surged by 6.37 percent to close at $4.84 per share for the end of last trading session on Wednesday. The shares of the company had been trading in the range of $4.61 to $4.96 per share during the day. The shares of Neutral Tandem Inc (NASDAQ:IQNT) had recorded 52 week high price level of $14.15 per share and 52 week low price level of $4.10 per share.
Neutral Tandem Inc (NASDAQ:IQNT) is involved in providing voice, data and hosted services to markets across the globe and operates through its wholly owned subsidiary, Inteliquent. The company provides global Ethernet telecommunication networks with 120 Ethernet sites spread across four continents and holds an Internet Protocol version 6 network for its operations. The wholly owned subsidiary of Neutral Tandem Inc (NASDAQ:IQNT), Inteliquent is involved in providing intelligent networking solutions to interconnection and interoperability issues in the global networks.
Neutral Tandem Inc (NASDAQ:IQNT) had recently announced the payment of dividend to its shareholders. The cash dividend to be paid to each shareholder amounts to $0.0625 per share, which is observed to be a decline of 97.92 percent from the cash dividend paid to shareholders for the same quarter of previous year. The quarterly dividend so announced is scheduled to be paid on June 24, 2013. The shareholders of Neutral Tandem Inc (NASDAQ:IQNT) as on records after market close of June 05, 2013 would be entitled to receive this dividend.
The shares of Neutral Tandem Inc (NASDAQ:IQNT) had been surging to higher levels owing to this dividend announcement. The company had witnessed the trade of 1.15 million shares on Wednesday, while the average trading volume for the company is at 1.31 million shares per day.
Neutral Tandem Inc (NASDAQ:IQNT) presently holds 32.39 million shares outstanding with an institutional ownership of 75 percent of its holdings.