Prospect Capital Corporation (PSEC) : Traders are bullish on Prospect Capital Corporation (PSEC) as it has outperformed the S&P 500 by a wide margin of 1.87% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.38%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.91% in the last 1 week, and is up 6.32% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 5.39% and the 50-Day Moving Average is 8.68%.
Prospect Capital Corporation (NASDAQ:PSEC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.16 and $8.15 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.25. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.24, notching a gain of 1.35% for the day. The total traded volume was 1,491,994 . The stock had closed at $8.13 on the previous day.
The company Insiders own 1.8% of Prospect Capital Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 3.33% . Institutional Investors own 11.82% of Prospect Capital Corporation shares. During last six month period, the net percent change held by insiders has seen a change of 57.77%. In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Prospect Capital Corp, Stark Eugene S had purchased shares worth of $7,450 in a transaction dated on May 12, 2016. A total of 1,000 shares were purchased at a price of $7.45 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Prospect Capital Corporation is a financial services company. The Company is a non-diversified closed-end investment company. The Companys investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. The Company primarily lends to and invests in middle market privately-held companies. Its investments include lending in private equity sponsored transactions; lending directly to companies not owned by private equity firms; control investments in corporate operating companies; control investments in financial companies; investments in structured credit; real estate investments; investments in syndicated debt; aircraft leasing, and online lending. The Company is managed by its investment adviser, Prospect Capital Management L.P.