Also, just saw this on CPTA on today:
"Jefferies initiates coverage on Capitala Finance (NASDAQ: CPTA) with a Buy rating and a $18.50 price target.-market sources"
Not that I necessarily agree with any analysts but I simply cannot see CPTA is not being traded at least 16 or higher. I will start trading it NOW.
With a strong US dollar which will become stronger with any rate hikes and a slow down in China where a lot of silver was consumed for industrial purpose, I just cannot see a lot of upward potential for silver. That said, if SLV dropsto or below 14.60, it may be a good entry price.
It would be probably easier selling off guns or ammunition and fetch better prices than selling double eagles. People would recognize US 90% junk silver coins better than any US gold coins for that matter. In a city not too far away a while ago some construction worker while working on a city road, found some old US gold coins that were buried by bank robbers a long time ago, bought them to the local banks, and get only face values for them. That said, these days with internet and iphones, everybody is a coin expert. LOL
Regular dividend: 0.1567 and special dividend 0.05, unchanged, same as previous.
I guess they want to wait before they would decide what to do with the extra capital gain of 0.43/share.
Interesting, CPTA just announced regular dividend of 0.1567 and special dividend of 0.05 for July, Aug, Sept, unchanged as previous. I guess they want to wait before they would decide what they would do with the extra 0.43 capital gain. At less, yield would be unchanged for next three months though.
Why did I say that because the BDC that was at the bottom of the sector one day might become the top gainer in the next trading day, basically making it a trader's market.
Yesterday, TAXI dropped badly because of the worries on greatly reduced values of taxi medallion due to competition of Uber. Today it was the top gainer in the BDC sector, up 6.35%. I hit myself on the head for not buying any yesterday because I knew full well that many investors always underestimated TAXI until its next earning surprise, just like they underestimated AINV.
At today's closing, about half of the BDCs in my watch list were in the Green, while the other half in the Red. But the order of them kept changing.
My no. 1 pick, up 0.67%, refused to drop significantly. It is the BDC with the lowest beta, therefore a great one to hold for LT.
My no. 2 pick, GAIN, broke even at 7.95, also annoying because I desperately need to buy it back.
My newly no. 3 pick, CPTA, closed at 15.36, down 1.54%, made another new 12-mo low at 15.34 yesterday, with almost double its average daily volume again today. Its range today of 15.36-15.90 was kind of unreal and I honestly do not believe it would stay this low as soon as they announce their next dividend, and if higher, watch out, it will shoot up just as fast as it came down......Don't say I did not warn you. Now of course with it down and all my short ETFs down today, it was indeed no fun. Tomorrow would be the day we would sell ALL our shorts and buy buy buy BDCs and other good dividend stocks.......With a possible down market soon, stable dividends would be key.....
TOT had been dropping daily, I hate French stock because of the added fee and withholding taxes, but it may become a bargain soon.
The BDC sector continued to sink despite the market recovered, probably because of expectation of a rate hike by the Fed on September, therefore just like J1 had said, if you hold any rate sensitive stocks (especially bond ETFs and/or REITs) better be prepared. That said, some of the BDCs are the most undervalued dividend stocks right now. There is simply not a lot of downside with FSC at this price level. I need to add back some pretty soon.
It was probably a very astute move in your part, with oil continuing to tank, how can airlines not making money? That said, at this time, I just do not want to hold anything that do not pay dividends. I was tempted to buy back PALL (palladium) when it made its 12-mo low a day or two ago and did not, it bounced sharply today.
It almost sounded like in the States, I doubt that too many seniors would vote for those presidential candidates who would propose cuts on either social security benefit (or increase age for full benefit) or medical care. At least, I won't.
There simply lack any fundamentals for FSC to rise in short term, long term especially if interest rate would rise more than 100 bps, then FSC would rise. You would almost be better off sell some FSC and buy GARS, GAIN or CPTA.