Fifth Street Senior Floating Rate (FSFR) has risen sharply, recording gains of 2.19% in the past 4 weeks. However, the stock has corrected -1.41% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.15% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 0.58% and the 50-Day Moving Average is 4.08%. Fifth Street Senior Floating Rate (NASDAQ:FSFR): The stock was completely flat for the day, closing at $8.39 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $8.37, the stock touched an intraday high of $8.47 and a low of $8.25. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $8.39. The total trading volume on Friday was 1,049,583.
The company Insiders own 0.18% of Fifth Street Senior Floating Rate shares according to the proxy statements. Institutional Investors own 28.11% of Fifth Street Senior Floating Rate shares. Also, In a research note released to the investors, Deutsche Bank maintains its rating on Fifth Street Senior Floating Rate (NASDAQ:FSFR).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Deutsche Bank lowers the new price target from $10.3 per share to $10 per share. The rating by the firm was issued on May 12, 2016.
Fifth Street Senior Floating Rate Corp. is a closed-end, non-diversified management investment company. The Company investment objective is to maximize the Companys portfolios total return by generating income from its debt investments while seeking to preserve its capital. The Company intends to achieve its investment objective by investing primarily in senior secured loans, including first lien, unitranche and second lien debt instruments, that pay interest at rates, which are determined periodically on the basis of a floating base lending rate, made to private middle market companies whose debt is rated below investment grade, which the Company refer to collectively as senior loans. The Companys investment adviser is Fifth Street Management.