I could see the sellers lining up over the past few days attempting to sell these shares. Hopefully, now with a buyer showing up to take their shares at $17.16, we can start an upward trend going into the ex-div date.
Same ole pattern, more shares traded AH than during the regular trading section.
These guys want to sell bad, look at almost all the other bdc message boards and they're attempting to make a just cause for owning ARCC rather than that board's stock.
I don't know what to think of these tactics and trading patterns, but I'm glad I paired down my holdings today because someone wants to sell very badly. Guess I'll take my capital gain instead of dividend this time and re-evaluate in a couple weeks.
I have a feeling I won't have any problems buying back in in the low 16's. If I'm wrong, I might give IGD a try as touted on this board a couple weeks ago.
Barring a total market crash, I don't think you will pick up ARCC at $16.
I was the one touting IGD. IGD has a good strategy & they've been executing. With a 9.4 % yield, very low beta (flat as a pancake, really), generally trending up with the market, I think this one meets the criteria a lot of high-yield investors have in mind. If you believe the market will be flat to somewhat down, IGD is really ideal. However if you believe the market may have a major bull run, IGD would be suboptimal. I honestly don't see how a major new bull market is going to materialize, and I believe the last few days' trading are more momo investors hopping on for the post-selloff ride than a sustainable change of direction to the upside. But others feel differently. In any event, IGD is a covered call fund, meaning it will underperform a strong bull market, do just fine in a flat market, and outperform other funds in a bear market, just like if you sold calls against your own equity positions.