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Monroe Capital Enters Oversold Territory

By Dividend Channel Staff, Monday, February 5, 4:10 PM ET
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The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics strong fundamentals and a valuation that looks inexpensive. Monroe Capital Corporation (NASDAQ:MRCC) presently has a stellar rank, in the top 10% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.

But making Monroe Capital Corporation an even more interesting and timely stock to look at, is the fact that in trading on Monday, shares of MRCC entered into oversold territory, changing hands as low as $12.81 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Monroe Capital Corporation, the RSI reading has hit 26.8 by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 36.0. A falling stock price all else being equal creates a better opportunity for dividend investors to capture a higher yield. Indeed, MRCC's recent annualized dividend of 1.4/share (currently paid in quarterly installments) works out to an annual yield of 10.20% based upon the recent $13.73 share price.

A bullish investor could look at MRCC's 26.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on MRCC is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.

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According to the ETF Finder at ETF Channel, MRCC makes up 1.19% of the BDC Income ETF (NYSE:BIZD) which is trading lower by about 3.2% on the day Monday.

See what other ETFs contain MRCC
See what other stocks are held by BIZD

This Article's Word Cloud:   According   Among   Arial   BIZD   Capital   Channel   Corporation   Dividend   DividendRank   ETFs   Finder   Income   Indeed   Index   MRCC   Monday   Monroe   NYSE   Newsletter   Offer   Oversold   below   bullish   coverage   currently   dividend   escape   fillColor   formula   history   ideas   interesting   investors   look   most   other   oversold   price   reading   recent   share   stock   stocks   territory   that   trading   universe   what   which   yield

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