I don't have much to write but I was pleasantly surprised with the recent surge in ECC's stock price. In one of my earlier articles, I thought ECC could hit $21/$22 but I thought they would have to raise their normal dividend to $0.65 per quarter to get there. So bully for us!!!! I did sell some of my shares today for some diversification (I have always been way too long ECC) and because I think the stock is getting pricey. I think an investor in a CLO equity fund should be paid 12% - 15%.
I love my new job and things are going well. There is nothing particular going on in the greater CLO market other than the market for new deals is getting crowded out by refinancing transactions. This is really good for ECC and other CLO Equity funds because the CLOs that they own that refinance/reset become more valuable to the equity holder and the derth of new CLO deals drives up the price of older deals.
Good luck everyone and let's enjoy ECC and OXLC, they are both in their sweet spots right now.
Disclosure: I am/we are long ECC, OXLC.
Additional disclosure: OXLC owns equity positions in the CLOs issued by the company I work for.