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GSV plans to distribute portion of 2015 gains; 2U position liquidated.

Oct. 14, 2015 6:19 PM ETSuRo Capital Corp. (SSSS)By: Eric Jhonsa, SA News Editor3 Comments
  • GSV Capital (GSVC) has chosen to be treated as a regulated investment company for the 2014 taxable year. As a result, the company is required to distribute at least 90% of its investment company taxable income (defined as  "ordinary income plus the excess of its realized net short-term capital gains over its realized net long-term capital losses") for the taxable year.
  • The company notes it had net realized gains of $53M for the first 9 months of 2015, and plans to distribute a portion of its gains for the whole year.
  • Also: GSV discloses it sold its entire 1.3M-share position in cloud education software firm 2U (TWOU) at an average price of $35.77. GSV yielded net proceeds of $47.2M, a realized gain of $37.2M, and an IRR of 65.1%.
  • 2U, which equaled 9.8% of GSV's net portfolio value at the end of Q2, closed today at $23.77, after having recently tumbled due to a bearish Citron Research report.

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