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Fifth Street Finance Corp. Message Board

  • thewisejman thewisejman Mar 21, 2013 11:16 AM Flag

    PFLT - money in the Bank

    The floating rate capital of PNNT (a BDC), just announced its SPO of 3M shares today at 14.00 and it dropped to as low as 13.65 today. I tried to buy some at below 13.80 but they were gone like hot cake, ended up grabbing some at 13.84, with an about a 7.56% yield. But you cannot look it as a BDC, rather as a floating senior notes such as PPR. I have not yet seen it dropped that much in one day until today.

    I cannot guarantee to you that it will never drop again, but these are some of its recent insider buys:

    2/13/13 Penn Arthur H
    Officer and Director Purchase 7,710 13.92 – 13.98 98,667 $107.6 K
    2/8/13 Penn Arthur H
    Officer and Director Purchase 16,949 13.87 – 13.96 90,957 $236.2 K
    2/6/13 Penn Arthur H
    Officer and Director Purchase 15,630 13.82 – 13.96 74,008 $216.5 K
    2/1/13 Penn Arthur H
    Officer and Director Purchase 29,661 13.41 – 13.84 58,378 $407.5 K
    1/23/13 Penn Arthur H
    Officer and Director Purchase 4,300 13.32 – 13.35 17,742 $57.3 K
    1/18/13 Penn Arthur H
    Chief Executive Officer Purchase 2,775 13.41 – 13.42 13,442 $37.2 K

    I already put in a bigger buy order for it at 13.65. Money in the Bank. J

    P.S. Now do not blame me if you lose money. Send me a $20 Amazon gift certificate if you make a killing on it though. LOL

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