Just go to the NMM web page and check out their dividend history. Their dividend has always been solid and even increased, even through the financial crisis they never cut it. Just forget you own it and keep collecting a very save income producer. If you aren't planning on selling for a long while like me, then today's stock price means nothing at all.
Go to Their web page and look at their dividend history. They've never cut their dividend, not even during 2008-09 when everything was collapsing.
They didn't cut their dividend when the market crashed in 2009 if thats any indication.
I'm not disputing your strategy on this because I'd like to do that with some of my energy plays right now. But I've been told if I sell one of my energy MLP's and buy another one, I can't take the capital loss, because it would be more like a wash sale due to their similarities. If this is true then that same rule would apply to BDC's.
Interestingly FRO has been moving up lately while most oil related stocks are going down like LINE. With oversupply, investors must be anticipating growing use of tankers for floating storage,
Their dividends have been steady for many years despite the ups and downs of the stock price. Just hold your nose and keep collecting.
I will also. Bought BP when the oil spill occurred around 30 and sold in the 40's. If it goes there again I will buy and wait for the price to go back up plus get a nice dividend while I wait. At 30 that would be an 8% yield, not bad...Not wishing any more pain on current holders,but thats where I am.
If you go to their web page and look at their portfolio, it shows very little exposure to oil and gas, and mostly secured debt.
Looks like a total of 22% down for the last two days in Europe. So combined about what it did yesterday in U.S. I'll take that after the opec announcement. I think this is about as bad as it gets on news so maybe the recovery is near for those that can hold. I sold about half my position yesterday but only to offset some gains for tax purposes, but still holding quite a bit.
I think you are right, but we still have the opec meeting to contend with on Fridays trade, and its anybody's guess what they are going to do. with that being said I bought more today figuring in a few months SDRL stock will be higher.
Chart sure looks like the share price has stabilized. Maybe up from here and those who ran for the hill are gone now (hoping anyway).