No, their EPS, even dropped to 1.02, would be more than sufficient to sustain their 0.24 qtr dividend.
I am kind of surprised to see so many trashes being posted by one person, sole purposes of which are to bash TAXI.
But why? If you hate it so much, why do you not short it to death with all of your money? Why kept bashing it? Did you lose all your money because of it? Just wonder.
If life is that simple, things will indeed go as you predicted and everybody will be happy and we will have more newly minted millionaires .....................or NOT
That is why none of you are millionaires because if you are, you will care about every single dollar if it belong to you. How do I know, because I am one. LOL
Read your own du mb remark:
"It has been my worst purchase in years...I bought @10.79.... The only reason I'm not totally sick about it is because PSEC has a history of this and the monthly dividend is comforting. My position is currently worth about $250k."
like you said ".you'_re an idiot."
I bought PSEC at 9.30.
You are a fool:
Checked its volume, on 6/3, it was 12.3M when it dropped to as low as 9.55. This has become a trading stock on days when it dropped big and it will happen again and again.....
Any data that may be worth watching is the amount of margin debt. Margin debt had reached its ALL TIME high of 450.2B (billion) at the end of March, 2014, started dropping off to 437.1B at the end of April. If this trend continues at the end of May (date not out yet), then watch out because last time Margin Debt reached its then all time high at the end of July, 2007, the market started tanking badly about 6-7 months later. Of course, history does not necessarily repeat itself and on one single factor can predict a market correction. Thanks to the ECB, QE has now started in Europe and there may be a lot of legs left with the stock market.
Not trying to spoil any of your fun because it was indeed exciting to see PSEC rose all the way to 9.85 today and my accounts shot up, thanks to my significant PSEC holdings and I am not selling any of it, at least not yet because where can you find a 13%+ yield good till this year?
However, do not get too excited because today's trading volumes are quite low:
PSEC, its average daily volume (last ten days) is 6.47M, today so far is 4.28M.
For the DOW, average daily volume is 62.8M, today so far 38.3M.
For NASDAQ, daily average: 425.5M, today 254.9M
S&P, daily average: 386.4M, today 222.9M
with about 1 hour and 15 min left before the market closes.
They were talking about this on CNBC earlier that it did not appear too many investors wanted to buy in the rally.
So you mean "Effects"?
Affect is a verb, not a noun.
What PSEC did is nothing new. Quite a few BDCs have subsidiaries under which applied for SBIC licenses and make SBA loans. A few have floating rate capitals, such as FSC has FSFR, PNNT has PFLT, making loans between parent company and its subsidiaries. ACAS, a BDC, owns and manages both AGNC and MTGE, both REITs and a floating rate capital, ASCF.
In short, if SEC really wants to dig deep into the accounting of these BDCs or REITs, they will find something.
PSEC is not and will not be the first BCS who is investigated by SEC.
May be you should consider buying either MAIN or TCAP, they both pay special dividends.
Well, why would any ETN pays you a whopping 16% yield if it is not risky. You are betting on BDCs and therefore on small caps. You would be highly rewarded if you are right or greatly punished if you are wrong. May be you should buy some insurance on both? I would rather buy CHKR than BDCL, yield is higher, risk is almost equal.
when PSEC dropped to as low as 9.61today, which is more than $1 below its recent NAV, with a whopping 13.8% yield, and so many of you were so busy running your mouths, some even proudly claimed that they had put buy orders for it at $6. Goodness, are they so low-witted? I already told you that it would indeed drop and now would be the time to buy instead of talking. I did. Boys would be separate from MEN. You all just keep on talking and I would keep buying. LOL
If you bought your PSEC at below 10, with a 13+% yield that is good till the end of this year and it can probably maintain its dividends with its excessive earnings till 2016, you should have nothing to worry. Now if you bought it at 11 or higher, then it will indeed take you longer to break even. The problem is: if you sell it and sit on a pile of cash, you would do with it? Buy bonds?
Freak occurance? Possibly, but if there is really a 10-20% correction like so many had predicted, do you believe PSEC will be spared, no matter how good it may be? It closed at 9.94 last Friday, 10% from that would be around 8.95. If I were you, I would put in a low-ball bid for some more shares. You never know when you may get some. I did get some at 9.70 and 9.30.
because there is a great chance for it to tank below $10 again, and again by the end of October.
When it tanks and stays at the low $9s,MEN will be separated from boys. So many of these posters talked so BIG here and kept saying how great a stock PSEC is, we will soon find out if they are full of convictions when PSEC tanks again or just full of HOT air. Most of them had been trying to blame the recent fall of PSEC on either the Russell Index or a sell off of large institutions, without realizing that the biggest culprits are little investors like them who had only bought PSEC for its apparent big yield and then selling in fear every time some bad news came out that caused PSEC to fall. This can and will happen again and June is actually quite susceptible for a overall market correction. Based on what happened lately, the BDC sector will remain very volatile in months to come, every time there is a rumor that the FED will raise interest rate, the market especially BDCs will get hit hard. For myself, I already put in a large buy order for more PSEC at 9.50, then more at 9.18, just in case. Of course, PSEC can very well rise above $10. I already sold off some at 10.28 and will continue to sell off more if it rises above 10.30. You should decide what you should do with PSEC in the long term: hold it, sell it when price rises or buy more when price drops. DO NOT listen to what others tell you, including this message. The funny thing is I had seen so many of the posters here continued to buy HIGH and sell LOW. LOL
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Its dividend appear to be safe till the end of this year. If it can continue to sustain its dividends past 2014, then you will be a genius who made a wise decision. If for any reasons it has to reduce its dividends (not likely), then better watch out. The only problem is that its NAV will continue to drop.