Apollo Investment Corporation (AINV) has been under a strong bear grip, hence the stock is down -2.57% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.26% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.89% in the last 1 week, and is up 4.01% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Apollo Investment Corporation (NASDAQ:AINV): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.64 and $5.63 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.72. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.70, notching a gain of 1.06% for the day. The total traded volume was 908,299 . The stock had closed at $5.64 on the previous day.
The stock has recorded a 20-day Moving Average of 2.94% and the 50-Day Moving Average is 5.86%. Apollo Investment Corporation is up 2.05% in the last 3-month period. Year-to-Date the stock performance stands at 17.36%.
Apollo Investment Corporation (Apollo Investment) is a closed-end, externally managed, non-diversified management investment company. The Companys investment objective is to generate current income and capital appreciation. The Company invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies. It may also invest in the securities of public companies and structured products, such as collateralized loan obligations (CLOs) and credit-linked notes (CLNs). It invests in middle-market, which include companies with annual revenues between $50 million and $2 billion. It may also invest a portion of the portfolio in other investment opportunities, including foreign securities and structured products. Apollo Investment Management, L.P. is the Companys investment adviser.