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GlobeNewswire (Thu, 5:12PM)
GlobeNewswire (Feb 19, 2014)
Fidus Investment Corporation Schedules Fourth Quarter and Full Year 2013 Earnings Release and Conference CallGlobeNewswire (Feb 11, 2014)
FDUS vs. ETF Alternatives
Thursday, Mar 65:53 PM
Wednesday, Feb 261:16 PM
Wednesday, Feb 261:16 PM| 14 Comments
- WIth business development companies getting the boot from S&P indices, will the Russell follow suit? It's a significant issue as investors are far more heavily invested in BDCs though the Russell indices than through S&P, writes Brendan Conway. He notes ownership of BDCs by Russell-tracking index funds are as high as 38 days worth of trading volume, and Wells Fargo estimates there are 24 BDCs where 10 or more days of average volume would be required to unload them.
- Wells, however, does not see Russell following S&P's lead, with item #1 being Russell's desire to "represent small cap reality." "Russell Indices receive acclaim because they are willing to provide investors access to the true investable small cap universe. To the extent BDCs are excluded, this would deprive investors the opportunity to invest in what has become a very large/growing industry."
- The following list is those BDCs with 10 or more days of average volume in index funds tracking Russell indices.
- NGPC 38.23 days of volume, CSWC 29 days, SCM 23.5, FDUS 20.7, GARS 20, MVC 19.7, SUNS 18, WHF 17.8, SLRC 17.2, CPTA 16, MCGC 15.1, BKCC 14.9, TCRD 14, HRZN 14, TCAP 13.9, PNNT 13.3, HTGC 12.6, TICC 12.6, GLAD, 12.4, GBDC 12.3, KCAP 12.2, TAXI 11.8, MAIN 11.4, NMFC 9.98.
- Related ETFs: BDCL, BDCS, BIZD
- Other major names - no doubt included in the indices, but whose holdings are less than 10 days of average trading volume: PSEC, FSC, ARCC, AINV, MCC, HTGC, TCPC, FULL, GBDC
Wednesday, Feb 195:11 PM
Friday, Aug 22013, 5:50 AM
Friday, Jun 212013, 12:13 PMTo find alpha in the BDC sector (BDCS), look for those companies with higher-than-average dividend growth, says BB&T's Vernon Plack. He still likes previous favorite Ares Capital (ARCC -0.8%), but his top 3 picks now are Fidus (FDUS -0.6%), Hercules Technology (HTGC +0.3%), and Solar Capital (SLRC -0.4%). Fidus - which invests at the low end of the middle-market space - has the potential for a 50% higher dividend, a 12.5% yield based on today's price. |Friday, Jun 212013, 12:13 PM| 1 Comment
Friday, May 32013, 6:43 AM
Thursday, Mar 72013, 5:58 PM
Monday, Feb 252013, 5:56 PM
Friday, Sep 72012, 9:10 AM
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