Might be another MCC type trade opportunity. Be careful though, tax loss sellers could move in.
Is OKE (like LNCO) a pass thru entity for OKS (Oneok Partners, an MLP)? OKE issue a 1099 at year end and OKS issues a K-1.
Both look good here, but I'd want to stick with the "dividend = 1099 form" one in my regular account.
In this case you have to look at the NET INCOME. Unrealized losses are why the net income fell and hence the NAV. In the meantime, the stock fell 8 cents while I was doing some research on OKE, an interesting div growth general partner for OKS (Oneok Partners).
Still holding MMC.
Again today, buyers showing more conviction that sellers. Will likely have news one of these days about New York possibly. Tax loss selling may be almost done here.
MCC's energy (they classify as oil & gas) holdings were 7.5% on Sept. 30. Another area that would concern me would be Mining (3.5% of holdings). Hard to find an area of that business that is doing well. NAV hit hard by "unrealized" losses.
Kel.....not an MCC holder
I'm not a current holder. The overall average for junk bonds being energy related is about 16%, so DHY is "over exposed" there by almost 50%. Many bonds in the energy area have already declined (and may decline more), even though they haven't defaulted. That would cause DHY's NAV to decline and hence the stock price.
I'd be careful. Just look to the right ( ) at their 5 day chart. If energy companies do start defaulting, it'll show up later in 2015, not in this quarter.
Kel..............just my opinion
I thought the sub units converted 12 months from the last day of the 1/4 when the last well was drilled.
Sold last week at 3.92. Back in @ 3.49. Scraping bottom unless this is just another step on the way down. Also holding CHK and AREX. Been doing a little buying, but still 55% in cash.
I feel like a Bullhead or a Carp down poking in the mud bottom. I'm back in @ 3.498. Smaller position than before, but also holding CHK and AREX in the drillers. Doubly bad time for oil to be sliding with tax loss season in full swing.
Was just looking at the last several trades over @ Fidelity. Conviction of buyers is much stronger than the sellers. Buys are for much larger share amounts and sellers all smaller trades. Ask price here @ .47 is a steal. I already have a full + position. Wish I could buy more.
I sold last week at $3.92 and was heartily ridiculed. SFY did make me look like a fool for a few days. Anyway, now around 3.50 - 3.55. Maybe time to get back in, but with a smaller position. Not sure. SFY basically acting like most other producers. Getting slaughtered. Will keep watching for now.
Good luck to all energy bottom fishers........we're all in the same boat (pun intended).
Bought a small amount of FSC (less than 2%) at 8.26......NAV is 9.64.
Also bought some ARIA (Ariad Pharma) @ 7.19. Been there before.
I'm also getting beat up in the oil patch holdings.