Hello PSEC board members. Just bough in $60k at 10.74/share, or 5500 shares. Couldn't resist the yield or monthly payment. I earned the $60k on RDN (mortgage insurer) which I bought at $3/share and sold at $10.15.
Management looks impressive, and it looks as though dividend rate has been slowly increasing. I'll dump if it hits 15. If not, I'll sleep well taking the 12%+ dividend.
IMHO, you should not buy so much at one time because there is a good possibility that PSEC may drop to the 10.60 level, then 10.30, especially in next month. Of course, if you intend to hold it for a while, you may be doing all right.
Jade and h92..........Back in near the close @ 10.75. As Jade knows, I've been here many times before. PSEC is the only BDC I'm holding now. Still have about 40% cash in my IRA available, although about 1/2 of that is a core cash position and I'll probably draw on it as I'm 61 years old and 1 year from Social Security eligibility.