% | $
Quotes you view appear here for quick access.

Fifth Street Finance Corp. Message Board

  • keltus1952 keltus1952 Aug 19, 2013 12:59 PM Flag

    Sold my PSEC...

    Sold at 11.01. Bought in June @ 10.09. I'd forgotten that I bought it that cheaply. Will let someone else hold it through the EPS report. Will continue to watch. May return, but not at current prices.


    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • With that type of gain, that is a good move. I am still holding my shares- but my average cost is higher than yours. So at this point it pays for me to continue to sit back and collect the dividend. I expect you will have an opportunity to purchase PSEC again in the $10 to $10.50 range. I think they will report good earnings this quarter. And if everything looks positive for them, I am planning to buy more when the big price drop comes.

    • Hi, Kel: I admire your courage and possibly great timing in selling your PSEC. PSEC is very strange and it usually will not drop when the market drops, about 2 months behind. Therefore, I will not be surprised to see it actually going up some more after it announces its next earning because I believe slicktop might be on the money if you read his message on the other board. For some interesting coincidence, right before the earnings announcement of a BDC or REIT recently, you will all of a sudden see some price movements, either started dropping or rising without any apparent reasons or news, only confirmed by its earnings. Example, KCAP started dropping even before the earning announcement and continued to drop badly afterwards. It may appear that PSEC may have a good earnings if its rise continues. Of course, that can be only coincidence. But I believe anybody who would buy PSEC at 11 or above will suffer a lot of hurts. I tried to talk my son-in-law out of buying KCAP at 10.15 but he insisted he knew what he was doing. Well, it will be a good time for young people to learn their own lessons. He did receive his dividend. I believe KCAP will have to reduce its future dividend and its price will drop further. It may come to a point that it will become a very attractive buy, probably three days after it announces the reduction of its dividend. I may buy some if the price is right. Worth to keep an eye on. I am also watching FSC closely and will start buying if it drops below $10. GL

6.47-0.03(-0.46%)Oct 8 4:00 PMEDT