I bailed on one of my mainstays AGNC, thought I was a genius when I showed my broker I was up 49% a little more than a year ago. The bottom fell out big time and I barely broke even. I am tickled with my long position on NCZ which pays about 235 bucks a month on 23K in the fund. Looking for another keeper, someone told me to look at PSEC. Opinions welcome.
DB, I don`t know if You are interested in Oil & Gas, but if so You should check out LNCO(No K-1), LINE(K-1), & BBEP, excellent opportunities in both right now, especially LNCO, pays divi. monthly, with LINE it`s a distribution which I hold because LNCO was not available when I bought into LINE. BBEP is going to monthly pay-out in 2014 which will see more improvements soon because of adding more oil into their holdings.
M-REITS appear a failed business plan, look at CIM ARR BMNM, BMNM used to trade at $85 per share now 32 cents and they started •Orchid Island Capital ORC and it is a grab I think for more money. ARR dividend cuts, CIM more loss in price than dividend talk about ROC? PSEC is a better bet I think.
That was me, db, my buy-in was $10.75, right now I agree with jersey, good Co., but there does seem like some more surprises ahead, surely didn`t see this big jump coming-just part of the big boys game.
I am an early investor in PSEC, so part of investment got hurt when the price crashed years back. However, with the DRIP and a slow climb back up in price, I am in the black. Later investments outside of the DRIP have done really well (all purchased below NAV).
I like PSEC. They haven't made too many bad bets and diversified when hard times hit the energy industry.
I am holding off any additional purchases right now in any BDC. The pricing seems high (above NAV) and I suspect that there might be another major correction in the market.