This POS will be yielding 9.5% or more at tomorrows open
And the ***** are retaining 10 cents in undistributed income. Any reason to hold onto this????? Solar Capital went UP today. PNNT is underperforming other BDCs. What does the market know that we don't?
I have posted in the past that the stock seems have big sell offs on high volume each day on or after 2:30 irrespective of market movement, but no one offered a cogent reason - or even a reply - to this observation.
Last year, the stock was a big winner for me as it was for many others. However, the irregular trading patterns which I have noted several times caused me concern. I sold the stock last week at a loss. The fact that management did not increase the dividend - they had 10c/share in undistributed earnings- did not provide an impetus when the stock jumped to 11.40 the day before the dividend announcement. As far as I was concerned, that killed any upward price movement and the stock has sold off after that date. More troubling, the stock is now selling at a discount to NAV, so any secondary at this time will dilute stockholder equity. All in all the stock is in trouble right now. So much for the genius of Penn & Co!!!!