Stock close of 8.96 for a discount to NAV of 10.67%. Annual yield based on the new rate (.09 monthly) is 12.05%........but they will still pay 12 cents in December.
Normally trades near or above its NAV. Looks good at these levels. Yes, I hold some.
Anyone know if there's any posted yet? Too early yet for Yahoo. With the Samsung dea, the strong increase for '14, have to wonder if 2015 will be up in the $1.75 or higher area.
I added some yesterday @ 9.06. I intended those to be "trading" shares as they put me to a level above what I'd just hold. Certainly won't sell them below $9, may just hold for the .12 December div.
Still watching FSC, haven't bought any yet.
December div is .05. They adjusted it ti make the full year payout more closely match the NII. It's discussed further down in the EPS press release.
"They've improved it" many times.....(:^).... Lately I've been getting things on screen over the top of other things on the message board. Like a framework over existing things. Then it freezes up. Have you had this?
If you buy now @ 9.07 you will get the .12 in December for an annual rate of almost 16% yield. starting in January the new rate (.09) will still get you a yield of almost 12% based on that 9.07 current price. Also trading more than $1.00 below current NAV (net asset value).
I just added some at 9.0699.
I am interested in buying some FSC, but just not yet. There's no upside catalyst right now, so no hurry to buy IMHO. I'll wait and watch and just maybe get the chance to buy some below 9.50.
Good time of the year for some tax loss selling plus the general market has been rather frothy. Both could work against FSC for the time being. If I'm wrong and FSC returns to the $10 area and stays up there, so be it. I'm not afraid of being wrong, just wants to control those wrongs dollar wise.
Sold several weeks ago @ 10.55. All the things mngt is doing are long term positive. Like building a fire under this stock and someday the "pot will cook over." Could 2014 be the year for that? Strong EPS growth will come from the $$ spent that held down Q 3 earnings.
$12 - 14 in 2014 is very possible IMHO.
Opens the door for PSEC to cut its dividend like FSC did. PSEC should cut to the .105 area. Yields on loans trending lower. Can't do anything about that, unless they want to underwrite more aggressive (more risky) loans. They will cut someday, just a matter of when. Then the premium to NAV (10.72 on Sept. 30) will disappear.
Not a big deal, just a fact of life in this business.
Kel...............not a holder of PSEC or FSC
Maybe the .03 of their div that they cut is mostly the ROC part. Going forward FSC shouldn't show any ROC, but they,ve been paying (ROC) in effect for quite awhile.
Sometimes ROC is just a bookkeeping classification, not really ROC. That's the case in many Buy / write CEFs like ETY, EXG, ETW, etc. for the last 3 or 4 years.
Interesting question..........a little like comparing apples with oranges I guess......both just cut....GGN by 25% (from .12 to .09)....FSC by 13%. If you make the assumption that both are sustainable for several months at their new rates, GGN is probably the better buy here, unless FSC really tanks to the $9.00 or lower area.
With GGN at 9.33 (10.13 NAV), it's now yielding 11.57%. For FSC to yield even 11% it would have to trade at $9.09.
GGN is already being penalized with a discount to NAV of 7.9%. If FSC had a similar discount to its new NAV of 9.85, it would trade at 9.06.
Will be interesting to see where FSC settles down, could see some action below 9.50 in my opinion.
Way below Friday's closing NAV of 10.18. I think the new .09 monthly rate will hold for a long long time. Look how hesitant they were to lower from .12 down to .09.
"Entitlements"........funny word.......I'd say retirees are 'entitled' to SS payments because they paid into it all their working years. Same for Medicare, but to a lesser extent, as there is a Medicare tax on paychecks as well, but that's relatively new.
The other entitlements are mostly really "gifts."
Just curious. Not holding any right now. Lots of speculation whether or not they'll cut the dividend. What do you holders think? Your rationale...?...........Will be watching.......
Sold TZA.....lost .38 per share..........Still holding SPXU for short
Sold GAIN @ 7.47.....cost 7.20 plus collected both Nov. dividends
Bought some GLW (Corning) @ 17.19. Worth a look. Great bal sheet and EPS on the rise. Reasonable PE Ratio on '14 EPS and pays a divvy too.