Today the DOW rose some 160 plus points, almost every single BDC rose, some rose sharply, yet AINV was among the very few BDC that dropped, it dropped to as low #$%$ 8.00 today, right now traded at 8.01, a drop of 1.36%, only ANACS's 1.56% was worse than it. Especially puzzling that tomorrow is its ex-div date, that means whoever bought it today will get the 20 cents dividend. Its previous earning announcement for Q4 is good, with a EPS of 0.21 and its NAV as of March 31 was 8.27. It just announced a deal in a 500M buy out for MidCap Financial (Health) just like FSC. Also, its recent insider buys:
6/6/13 Zelter James C
Chief Executive Officer Purchase 20,000 7.96 – 7.96 184,592 $159.2 K
Zelter James C
Chief Executive Officer Purchase 20,000 7.96 – 7.96 196,009 $159.2 K
while not a lot, but that just does not explains why it drops today unless they will announce a SPO this afternoon which lately a lot of companies did on their ex-divd dates (like NCT).
Well, I bought 1200 shares earlier at 8.06 and just bought another 1000 shares at 8.01, trying to buy a lot more if it drops below $8. Now I will fund out soon if my timing is the worse or? LOL
Okay, so AINV dropped to as low as 8.00 yesterday, dropped some 1.36%, a day before its ex-div date. Today it jumped to as high as 7.95 right now, add back the 20 cents dividend, making it 8.15. If you just bought it earlier this morning at 7.81 and sell it now at 7.95, that is a gain of 14 cents per share. Goodness something is very wrong with this market. I am fixed to buy some more DXD, nothing good will come out of this market after it rose so high two days in a row, and if it climbs more tomorrow, you all better watch out this Wednesday after Bernake speaks, nothing good will happen, guaranteed.