No, just 129 trades on psec now and I have a huge position that I accumulated at lower prices, which I will probably. sell at resistence again. Eat your heart out. Most buy and holders like you got stuck at prices arround 11.30 and higher, while traders have done very well.
You are my idea of a real nice guy. Bet the dogs in your area won't come near you. They sense those sort of things.
Slick your post history reads like a comic book. When your out you bash relentlessly, when in you pump until you sell and then brag about 29000 successful trades in a row. The only thing you offer is ........Baloney!
Baloney, anyone who knows anything about psec knew what I posted. You are showing your lack of knowledge. I checked out your posts on other threads and you have nothing to offer anyone...........
Very good answer slick, a bit late, but good. Question was answered last night, and without your usual "stupid" comment.
phil, I agree wholeheartedly, as I noted at the end of my post. It's the kiss of death for any company to use funds raised from SO's to cover a divvy.
Sentiment: Strong Buy
Stupid post. Dividend has been declared thru Dec. CEO has stated that div will never be cut during conference calls. Retained earnings are available to cover the div if there is a small shortfall. MOVE ON PEOPLE...........
Carl PSEC in the last two years has a surplus one QT and a BE another QT with the rest being small misses. I personally like to see all REIT and BDC pay what they earn and cut the fancy footwork.
I have to say I'm fairly happy. I bought a few months ago at 9.92 and 10.25 in two different accounts. Collecting divs AND capital appreciation. I can't complain. Earnings may not quite cover, we'll see, but even if they don't they won't be much off. The div will still be well over 10% even if they have to drop it a little in the near future.
We seem to still be facing a bit of overhang from the problems encountered earlier in the year. While the short interest is back down to normal historic levels the trading volume is down. Moving forward assuming we get some color in regards to how the new PSEC will look due to a change in how it consolidates holdings should provide a nice valuation change for current equity owners. This is a bonus to following Prospect and its holding company PCM closely.
The consolidation will return fees , and more equity will be retained in the Parent(Prospect). This is equal to a share buyback in terms of value.
With the larger equity investments Prospect seems to have been focused on naming its price for leveraged finance transactions vs competing with many others for multiple smaller deals, this should prove to benefit income and could (should) provide for dividend coverage for some time moving forward.
while we trade above net asset value, we may actually be below net asset value after the consolidation is disseminated and how it changes the asset value moving forward.
For the many longs that have collected several dollars worth of dividends you certainly know how this works and we all can act to reassure new holders, this is a steady income producing equity and a wonderful alternative for many in need of a boost to monthly income streams.
Sentiment: Strong Buy
That's not the way it's done phil. They use the ATM instead of secondaries to raise cash for INVESTMENTS, not to cover the dividends. They have an accumulated cash carryforward of earnings not distributed to shareholders of, currently, .22. If they need a penny or two that's where it comes from. NEVER from an ATM raise. Hopefully earnings will cover their payout. They really don't want to dip into that surplus, only add to it.
Russell PSEC has earned enough to pay the Dividend once in the last two years so get off there backs already. Besides they use there ATM SPO as a money machine to cover the Dividend. Works like a charm.
NEW YORK, NY -- (Marketwired) -- 08/19/14 -- Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect" or "Company") announced today that it expects to file with the Securities and Exchange Commission its report on Form 10-K containing its fiscal year results for the period ended June 30, 2014 on Monday, August 25, 2014 after the close of the markets. The Company also expects to issue its earnings press release on Monday, August 25, 2014 after the close of the markets.
The same way they have for the past several years!!!!!!!!!!!!!! Checkout the dividend payout history!!!!!!!!!!!
Sentiment: Strong Buy
SA is still free and is just food for thought. If your looking for someone to tell you what to invest in, look somewhere else.
From my earlier trading experiences I believe reading StealingAlpha articles leads one to make mistakes probably to the authors benefit. I like to read SEC filings and glance at opinions on Fidelity website to get information to form a opinion. I also believe the FSC MB is a good source of investment opinion.
Great post. Thanks to you and carl_icahnt. Interesting timing near the usual run up before the ex dividend .date.