Seeking Alpha
  • det9
    $PSEC does not get a break.. Holding..
    6/13/14
    Reply (18)
    • nclsamy: Any news?
      6/13/14
    • oneotherfool: http://seekingalpha.com/a/1cm03
      6/13/14
    • nclsamy: Thanks, one!
      6/13/14
    • nclsamy: After some reading about the problem I decided I will stick for $PSEC for at least 1 or 2 more months. The $44mm of bad debt is only 1% of
      6/14/14
    • nclsamy: the current portfolio, even though they represented 2.3% (at the origination). So the NAT (currently at $10.68) should not drop very much.
      6/14/14
    • nclsamy: $PSEC short interest is very high (as of 30.05) : 24mm shares held short. http://bit.ly/SGH6y4
      6/14/14
    • det9: Thanks for the info Samy..
      6/14/14
    • oneotherfool: Samy, it is high, and jumped lately, but it's not really that high. It's only 7%. The total shares outstanding is 342M.
      6/14/14
    • oneotherfool: http://bit.ly/1lzsexi For contrast, $ARNA has 44M shorted out of 220M outstanding (20%) :). And that after it came down!
      6/14/14
    • oneotherfool: I second det though, thanks for sharing the DD.
      6/14/14
    • nclsamy: One, I pointed that out only to be compared with its shot interest in the last 6 months ( an average of about 8 M shares shorted).
      6/14/14
    • nclsamy: That is a 200% increase. By the way, Nice Job on getting ARNA on the dip.
      6/14/14
    • oneotherfool: Yeah, I agree. It jumped like crazy. They were definitely not betting on $PSEC winning that appeal. It will be interesting to watch.
      6/15/14
    • oneotherfool: My guess is that they will use ANY negative news to send it down and cover while they can. Thanks on $ARNA, will see how it goes. Only if
      6/15/14
    • oneotherfool: AF and the like, with their Agendas would let these Bios (with decent fundamentals) be. But hey, then investing/trading would be easy :)
      6/15/14
    • nclsamy: Usually those kinds of attacks provide good entry points if they are unfounded. About $PSEC, I am currently long and overweight with an CB
      6/15/14
    • nclsamy: around $10.2, but I may sell some at break-even and relocate on $BDCL. With this kind of short interest in PSEC and the Russel dumping BDCs
      6/15/14
    • nclsamy: I am afraid PSEC would underperform the sector. Have a great Sunday, guys!
      6/15/14