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| Top Buys by Top Brass: CHIEF EXECUTIVE OFFICER Barry's $1.1M Bet on PSECBy Dividend Channel Staff, Thursday, November 16, 12:18 PM ET
A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $1.1M invested across 2 purchases by John F. Barry, CHIEF EXECUTIVE OFFICER at Prospect Capital Corporation (NASDAQ:PSEC). Barry bets big on PSEC:
Barry's average cost works out to $5.99/share. In trading on Thursday, bargain hunters could buy shares of Prospect Capital Corporation (NASDAQ:PSEC) and achieve a cost basis lower than Barry, with shares changing hands as low as $5.75 per share. Shares of Prospect Capital Corporation were changing hands at $5.77 at last check, trading off about 0.3% on Thursday. The chart below shows the one year performance of PSEC shares, versus its 200 day moving average:
Looking at the chart above, PSEC's low point in its 52 week range is $5.025 per share, with $7.83 as the 52 week high point — that compares with a last trade of $5.77. The current annualized dividend paid by Prospect Capital Corporation is $0.72/share, currently paid in monthly installments, and its most recent dividend has an upcoming ex-date of 11/27/2023. Below is a long-term dividend history chart for PSEC, which can be of good help in judging whether the most recent dividend with approx. 12.4% annualized yield is likely to continue.
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