I own both CLM and PSEC, and am thinking of the foLlowing monthly trades to increase my divi income:
Sell CLM on 9/16 in order to get their Sept dividend and use the funds to buy PSEC on 9/21 in order to get their Sept divi.
I don't see why you couldn't do this monthly, BUT AM I MISSING SOMETHING?
I believe you are right on PSEC, I've put in an order to buy but at $7.13 that I believe will be executed on by the end of next week...actually I believe tha will be the low for the rest of the year.
Let me see, CFP announces a dividend based upon past earnings of $.855 based upon PRIOR QUARTER's earnings payable monthly over June, July and August. CFP makes the June payment on 6/19. Then they merge. So, what happened to the remaining 2 payments that were based upon the prior quarter's earnings? Do they go to CLM management to be diluted and distributed to all CLM (including prior CFP holders)? I guess that's what happens if you miss the modern math courses in school.
The merger has been approved...but does anyone have an idea of when it will happen?
Back in April I made a prediction based upon my program that CFP would be between 19.00 and 1930 the day before the merger takes place...I just want to know how close I am going to be.