September 13, 2013 (Update SOLD PSEC)
A blog reader recently sent sent a note, telling me that he bought PSEC.
Just for the record, PSEC (Prospect Capital Corporation ) is an excellent business development company….it’s the big kahuna in this market segment. I have never mentioned PSEC here but I do hold it. Just for chuckles I went back to see when I bought PSEC. Can you believe 2007!!!!! I don’t watch PSEC closely, it just sits there in the background dishing up great dividends. Today’s rate is 11.45%. What a life!!
So what’s the point of this chit chat.
I suggest dividend investors get educated on ‘reading charts’ ie technicals. The charts will give you buy and sell signals. As it happens, you had great buying opportunities at lower prices in November 2012 and June of 2013. PSEC is in a range of $10.37 and $12.07 and right now its smack dab in the middle.
Is PSEC is good buy today???? Yes it looks strong and any investor will do well. New buyers could buy small amounts. But I would wait for a dip to really load up. Also watch the ex-dividend dates where the price usually drops. The next date is September 26.
Thanks to the reader who sent the note. I appreciate your interest in this blog and my thoughts.
Go to “HOME” (top of page) for the most current posts. (Please respond to POLL Click Here) This blog discusses dividend paying investments that I find appropriate for myself…..and for investors seeking dividends and income. I am not an investment professional. You must do your own research before buying any position. All gains or losses that you realize are based on your choices.