Added more @ 4.64. Pitifully low volume today of around 260,000 about 2.25 hours from the close. CCXI is on everyone's "ignore list" today I guess.
I haven't touched them. They may have the potential of moving up 10 - 20% on an oversold rally for nimble traders. But, I think they may have entered one of their long term down cycles. Remember the "value traps" that the off shore drillers were a few years ago with the still large EPS estimates and healthy dividends.
Just urging some caution.................Kel
I read that story. Rather poorly written. I did like the 90% market share and the WW dominance. The author seemed determined though to offset every positive with a potential negative.
Kel..............still holding GILD, CELG, ICPT, and CCXI
Will be watching closely how the stock does after the x-div date. May pick up more shares if the price over reacts vs the NAV. Will mess up some account values as the 82 cents will come out of stock value, but won't be paid for about 7 weeks.
The idiot Obama thinks that kissing the World's #$%$ will make him a beloved figure in history. He is the laughing stock of the World.
Bought a little CCXI @ 4.78. Immediately dropped 10 cents. I am 50% invested in biotech stocks along with 2 medical / biotech CEFs (THW and THQ).....the other 50% is in cash.
I got that 64 BCF number from CNBC. Who knows where they got it, maybe it was at the bottom of the usual long list of weekly estimates.
BB.........I'd at least be very watchful when the time comes for them to announce their next 3 months of dists. Last year they declared on July 22 (Wednesday). Be careful and good luck.
Noticed that. Problem is that when it goes x-div, that .82 comes right out of the price and the NAV. Will get you more shares though. What we really need is to get this group moving forward, not backwards. I'm holding HQL, THQ, and THW. Also GILD, CELG, and ICPT. A lot riding on the biotech business at this time. About the only bargains I can find though.
The $84k price is just a list price. GILD is battling MRK and ABBV's entries with discounts and rebates. The $36,000 number is getting closer to realized "net" pricing.
NAV has declined 40% (from 23.83 down to 14.31) since its inception on 10-26-12, not even 4 years ago. Has paid the .1511 monthly the whole time. The latest SEC filing shows 'unrealized' losses totally over $50 million.
Many of their holdings have 10%+ coupons. They even have loans tied to The Republic of Iran. Not sure how they maintain a positive UNII unless they keep rolling to higher yielding holdings as the others falter.
IMO.........regarding CEFs, always follow the NAV. That doesn't generally lie and tells the real story. Check it out @ CEF Connect.
Just my opinion..............Kel
Again, it will be paid with newly issued common shares. Was paid with cash prior to March of this year. If they're this desperate for cash, why not do a secondary offering and apply the funds to debt? Might actually be considered a positive move like it was for DVN and MRO.
Current target range is .25 - .50%.
Median projection for YE 2016 is now .875%.
Median projections for YE 2017 is now 1.625%
Median projection for YE 2018 is now 2.375%
How, may I ask, will any of these projections ever be met if they don't have the testicular fortitude to raise rates even once? The projections for '17 and '18 have been lowered by over 100 BPs over the last 6 months. The world is awash with cheap money. When rates have to be raised to control eventual inflation, World economies will then be choked by those higher rates.
Are all the World's economists really smart enough to pull off this high-wire act? NOT LIKELY.