Snag Shares of PSEC Cheaper Than the CFO Did

By Dividend Channel Staff, Wednesday, March 20, 3:00 PM ET

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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on March 11, Prospect Capital Corporation's CFO, Kristin Lea Van Dask, invested $27,199.50 into 5,000 shares of PSEC, for a cost per share of $5.44. Bargain hunters tend to pay particular attention to insider buys like this one, because 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.

In trading on Wednesday, bargain hunters could buy shares of Prospect Capital Corporation (NASDAQ:PSEC) and achieve a cost basis even cheaper than Van Dask, with shares changing hands as low as $5.41 per share. Prospect Capital Corporation shares are currently trading off about 0.9% on the day. The chart below shows the one year performance of PSEC shares, versus its 200 day moving average:

Prospect Capital Corporation Chart

Looking at the chart above, PSEC's low point in its 52 week range is $5.025 per share, with $7.04 as the 52 week high point — that compares with a last trade of $5.43. By comparison, below is a table showing the prices at which PSEC insider buying was recorded over the last six months:

Purchased	Insider	Title	Shares	Price/Share	Value
11/10/2023	Kristin Lea Van Dask	CFO, TREASURER, SECRETARY, CCO	5,000	$5.68	$28,397.75
11/21/2023	M. Grier Eliasek	Chief Operating Officer	15,750	$5.75	$90,562.50
11/20/2023	M. Grier Eliasek	Chief Operating Officer	11,000	$5.80	$63,836.68
11/27/2023	M. Grier Eliasek	Chief Operating Officer	10,000	$5.75	$57,500.00
11/28/2023	M. Grier Eliasek	Chief Operating Officer	10,000	$5.62	$56,200.00
11/29/2023	M. Grier Eliasek	Chief Operating Officer	10,000	$5.60	$56,000.00
12/04/2023	M. Grier Eliasek	Chief Operating Officer	10,000	$5.66	$56,599.99
12/05/2023	M. Grier Eliasek	Chief Operating Officer	10,000	$5.64	$56,391.00
12/06/2023	M. Grier Eliasek	Chief Operating Officer	10,000	$5.67	$56,700.00
03/11/2024	Kristin Lea Van Dask	CFO, TREASURER, SECRETARY, CCO	5,000	$5.44	$27,199.50

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 03/26/2024. 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. 13.1% annualized yield is likely to continue.

Free Report: Top 8%+ Dividends (paid monthly)

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Snag Shares of PSEC Cheaper Than the CFO Did

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