Prospect Capital Corporation (PSEC) : Traders are bullish on Prospect Capital Corporation (PSEC) as it has outperformed the S&P 500 by a wide margin of 0.18% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.55%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.6% in the last 1 week, and is up 1.21% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 0.8% and the 50-Day Moving Average is 5.42%. Prospect Capital Corporation (NASDAQ:PSEC): stock turned positive on Friday. Though the stock opened at $8.32, the bulls momentum made the stock top out at $8.36 level for the day. The stock recorded a low of $8.3 and closed the trading day at $8.34, in the green by 0.36%. The total traded volume for the day was 1,143,785. The stock had closed at $8.31 in the previous days trading.
The company Insiders own 1.8% of Prospect Capital Corporation shares according to the proxy statements. Institutional Investors own 12.08% of Prospect Capital Corporation shares. During last six month period, the net percent change held by insiders has seen a change of 3.84%. Also, National Securities downgrades its rating on Prospect Capital Corporation (NASDAQ:PSEC). Analysts at the National Securities have a current rating of Sell on the shares. The shares were previously rated Neutral. The rating by the firm was issued on July 20, 2016.
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.