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| Top Buys by Top Brass: CEO Gross's $398.4K Bet on SLRCBy Dividend Channel Staff, Thursday, January 26, 12:11 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 $398.4K by Michael S. Gross, CEO at Solar Capital Limited (NASDAQ:SLRC). Gross bets big on SLRC:
Gross's average cost works out to $19.92/share. Shares of Solar Capital Limited were changing hands at $22.87 at last check, trading up about 0.9% on Thursday. The chart below shows the one year performance of SLRC shares, versus its 200 day moving average:
Looking at the chart above, SLRC's low point in its 52 week range is $18.90 per share, with $25.93 as the 52 week high point — that compares with a last trade of $22.87. The current annualized dividend paid by Solar Capital Limited is $2.40/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 12/13/2011. Below is a long-term dividend history chart for SLRC, which can be of good help in judging whether the most recent dividend with approx. 10.6% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, SLRC makes up 1.18% of the Global Listed Private Equity Portfolio ETF (AMEX:PSP) which is trading up by about 0.5% on the day Thursday. See what other ETFs contain SLRC » Free Trial: ''ETF CHANNEL FLEXIBLE GROWTH INVESTMENT PORTFOLIO'' The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors — anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors, commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow the performance trail wherever it leads us.
Find the right mix of model portfolios today at PortfolioChannel.com
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One Reason For Insiders to Buy
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