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Prospect Capital Corporation Message Board

  • jadelover888888888 jadelover888888888 May 22, 2013 12:04 PM Flag

    PSEC - dog of the BDCs

    in term of its upward price momentum?

    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.

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PSEC
10.8999+0.0449(+0.41%)1:17 PMEDT

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