Today, the DOW has made new high again and reached its daily high and 12-mo high of 15542, what did PSEC do? Almost nothing, it lingered in the pitiful range of 10.91 - 10.98 and cannot break through the $11 barrier. It closed at 10.94 yesterday and traded at around 10.94 right now. That is sickening especially when the rest of the market went up so much. Its ex-div date is next Wednesday, 5/29 and with 5/27 being a holiday, that means 5/28 will be the last day you can buy it and capture this month's dividend and if it cannot close at $11 by then, there will be no hope for PSEC, because the likelihood for it to tank badly on and after 5/29 is just excellent. If I were you, I will forsake this month's dividend and sell the sucker at 10.97-10.99 because I believe you will be able to buy it back much cheaper on or after its next ex-div date, 5/29.
Just to show you how badly PSEC has performed, I bought FULL, a tiny little BDC (market cap is only 59.8M) on 12/31/12 at 7.39, today it was traded at 7.91, a whopping jump of 6.98% in not even five months. At its current price of 7.91, its yield is 11.69%, though not better than PSEC's 12.08%, but if you add on the almost 7% rise in capital appreciation in the last five months to its yield, unless you are totally blind, you have to admit that it beats PSEC handily. So, why would I be jealousy of all of you who have been holding PSEC?
May be it is time for you to smell the coffee and admit that PSEC may be the dog of BDCs in terms of price momentum?
I still believe PSEC will drop to and below 10.50 in the next three months. Therefore, you better enjoy your fat dividend before time runs out.
penny one or two: You should never open your mouth without doing your own DD because it will make you look like a fool. Yes, GLAD sucks and I will never buy it but GAIN is good. Its performance speaks for itself, unlike your PSEC, going nowhere, now started dropping.......
You still did not get it, do you? Why would PSEC started selling good investments? It was because they needed to money, to either make more risky investments, paying its high dividend or jacking up its NAV so it will not keep falling. With its ATM program, its NAV can only continue to tank. Even with selling this recent investment, the best they can do is to keep their NAV stagnant.
You are the dog of the board. A cur-dog, I might add. I see you're still on the $10.50 "in three months" kick. Gee, is that enough of a hedge for you? After earnings came out, you were predicting $10.50 in a matter of days. When are you going to take it out to six months? Or a year?
What a fraud you are. What is your agenda? Don't tell us you're just a Good Samaritan trying to help the dummies. That's bull excrement.