Prospect Capital Corporation (NASDAQ:PSEC) has tumbled 1.15% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 3.89% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.04% and the outperformance has advanced to 2.94% for the last 4 weeks period.
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 $7.67 and $7.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $7.80. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.75, notching a gain of 0.78% for the day. The total traded volume was 2,353,753 . The stock had closed at $7.69 on the previous day.
The company shares have dropped -0.13% from its 1 Year high price. On Sep 9, 2015, the shares registered one year high at $8.09 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $7.55 and the 200 Day Moving Average price is recorded at $7.03.
On the companys insider trading activities, Stark Eugene S, director of Prospect Capital Corp had purchased 1,000 shares on May 12, 2016 in a transaction. The price per share was $7.45 and the total amount of the disclosed transaction was $7,450.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Deutsche Bank, downgrades their rating on the shares of Prospect Capital Corporation (NASDAQ:PSEC). Deutsche Bank has a Hold rating on the shares. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on April 28, 2016. Currently 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 11.83% of Prospect Capital Corporation shares. During last six month period, the net percent change held by insiders has seen a change of 57.77%.
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.