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Business Wire (Feb 27, 2014)
Business Wire (Feb 26, 2014)
Business Wire (Feb 10, 2014)
Full Circle Capital Corporation Schedules Second Quarter Fiscal 2014 Earnings Release and Conference CallBusiness Wire (Feb 6, 2014)
Business Wire (Jan 27, 2014)
Business Wire (Jan 14, 2014)
Business Wire (Jan 13, 2014)
FULL vs. ETF Alternatives
Full Circle Capital Corp is an externally managed non-diversified closed-end management investment company. Its investment objective is to generate both current income and capital appreciation through debt and equity investments.
Tuesday, Mar 43:16 PM
Tuesday, Mar 43:16 PM| 2 Comments
- A big move for Advanced Cannabis Solutions (CANN +38.2%) is feeding through to Full Circle Capital (FULL +6.8%) which several weeks ago paid $0.50 each for 1M warrants to buy CANN at $5.50 each. The CANN investment alone looks like its worth more than $10 per share for Full Circle which is now trading at $8.88.
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
Monday, Feb 105:38 PM|Monday, Feb 105:38 PM| Comment!
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Tuesday, Jan 1412:16 PM|Tuesday, Jan 1412:16 PM| Comment!
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Wednesday, Nov 142012, 5:51 PMPanic-selling in income producers (I, II) infected the BDC's as well, notably Main Street (MAIN) and Triangle (TCAP), both down more than 10%. Fed meddling seemingly can't hurt their returns, but most names in the popular sector trade well above their net asset values (MAIN is 57% above Sept. 30 NAV after today's decline, TCAP 47%), making them vulnerable to a change in sentiment even if business is doing fine. |Wednesday, Nov 142012, 5:51 PM| 19 Comments
Thursday, Sep 222011, 1:05 PM