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.
I agree. Should be OK for the next year. At some point we'll get rallies in energy and PMs both at the same time. Besides the nice yield, there'll likely be a chance for a capital gain. Could easily see $9.00 again.
Don't you guys know when you're getting scammed. All the buy recs and high price targets this week were an orchestrated SCAM. Pump and dump several 100,000 shares for a few cents, and y'all fell for it.
Kel..............a former holder....just an observer
SEA.AX......symbol for Sundance. Stock is under $1.00 but it says the market cap is$458 million.
Old story there about EF acreage.
Sold my shorts on Tuesday (TZA and SPXS) for tiny losses. Trying to day trade 2000 AKS. Not good so far. In at 6.50, now about 6.40.
Med.....you tell him. He is a loooooser. By the way.......I agree with your opinion that if they do more JVs that it'll only cloud the picture and make an outright takeover less likely. Small price pops with JV news (then fades again), but prevents the big pop from a buyout.
I might buy 2000 the second it opens. Might be a great day trade (or 1 hour trade. Gotta run.
Right on! ......X-div dates.....1-13, 2-10, and 3-13......pay dates.....1-23, 2-20, and 3-24..............Kel
I think they'll cut to .07. The cut last Nov. was from .12 to .09, a cut of 25%. A 25% cut now would be to 6.75 cents. Even though they are getting beat up in the basic portfolio, I think they are probably doing OK with the written call options. They write mostly in 1-3 month cycles and with the recent volatility in energy and PM stocks I think that part has been decent.
Just my opinion. Am holding some GGN.