Hard to believe that someone would go through all the trouble of establishing an identity to post that drivel. Maybe it's Terry and the BOD goofing around......of course they have nothing better to do once they lock in some oil hedges at $60. Have a good TG med.
J-man...........what's with FSFR declaring the next div (x-div on March 31) before it even goes X-div for the more current div on 12-11? Very unusual if not a little weird. Not holding FSC or FSFR.
Mine is in my IRA, so not that opportunity. But, if it was in a reg acct and I need to balance out some realized gains...........RGDX might be right for that. Sellers could dump it now and buy it back at the end of December. Just taking a chance on missing out on any good news in the next 31 days.
In my income "play" IRA portfolio where nothing is more than 2% of my total mix......
Bought some PSEC @ 9.49......like Phil mainly a play on potential spin-off hoopla although that will be their chance to "adjust" the monthly div.
Also bought a little MEMP @ 15.91, already lower. Now have in that grouping of small holdings.....PSEC, MEMP, EXG, ETW, LNCO, DHY, GGN, ARCP, and GRX. Not one of these is greater than 2% of my IRA acct so no stress involved with any of these positions. Some nice yields though.
Just sold it today @ 19.96. I've held it since January. I don't like their heavy concentration in a few issues in particular like Regency and Energy Transfer.
I still hold FEI, FPL, and CEN......all pay monthly and issue 1099 tax forms. FPL is particularly cheap right now. More than $2 below NAV and a nice yield over 6%.
Natgas..........hedged 94% thru yearend '14........Hedged 92% in 2015-16.......hedged 82% thru 2019
Oil................hedged 87% thru yearend '14..........hedged 93% in 2015-16........hedged 83% thru 2019.
SFY hedges......so pitiful not even worth mentioning. Debt almost 6 X estimated 2015 cash flow and almost no pricing protection in place. Good job Terry. Go get a side job demonstrating in Ferguson.
Kel..........an unfortunate holder
J-man.....didn't we have someone posting here for awhile who was a former Boston Red Sox player?
Kel......(a big Jim Rice fan by the way)
Just spent some time looking it over.
I recall that someone (J-man?) calculated that the NAV dropped to the $13.00 area (or less, not sure) after the big offering below NAV.
Stock fell to 10.39 during the mid October sell off. Now @ 10.91 with a .30 div already declared for December (X date of 12-11). Average estimate for 2015 year is $1.19, so the coverage looks to be OK.
Yield is 11% based on the $1.20 annual payout. Question is I guess is have they digested the $$ from that big offering and put those $$ to work. This is an awfully nice yield for a Senior Loan fund, 300-500 basis points better than most others, especially those that are CEFs.
Any thoughts on all this? Just looking so far...........Thanks..................Kel
Sold those shares @ .54. Bought back 3000 @ .52 Friday afternoon.. One of these days we'll roll out of bed and this will be much higher. A buyout or a new contract.
I don't think that'll prevent a buyout. Any buyer would just assume (inherit) and deals they have in place.
Based on the current $8.00 price. Likely is save for the next 12 months. Great chance for additional price recovery if / when oil and precious metals stocks stage a recovery.