|Day's Range||18.20 - 18.30|
|52 Week Range||16.08 - 19.34|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.40%|
The heady recent gains of business development companies—those high-yielding publicly traded companies that make loans to midsize firms—are rapidly getting eroded this earnings season. As a group, BDCs are still up 20% for the past year, but they’re down 4% in just the past month. Ares Capital (ARCC), by far the largest BDC, is down 7% in that time.
Earlier this week, Business Development Company Medley Capital (MCC) cut its dividend by 27%, reported a loss and shares plunged. The stock ended the week at $6.19, down 19% from Monday's level. "Overall ...
The recent underperformance of real estate investment trusts (REITs) and utilities relative to the S&P 500 is a warning sign for bonds, write Strategas Research Partners' technical analysts Chris Verrone and Todd Sohn on Wednesday. While charts of the performance of both sectors show roughly flat returns this year, when they are plotted relative to the S&P 500, they are at new multi-year lows.