Arete Wealth Advisors LLC lifted its holdings in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 85.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,350 shares of the financial services provider’s stock after purchasing an additional 19,025 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Prospect Capital Corporation were worth $336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PSEC. Bank of Montreal Can grew its holdings in shares of Prospect Capital Corporation by 4.6% during the second quarter. Bank of Montreal Can now owns 5,892,500 shares of the financial services provider’s stock worth $47,847,000 after buying an additional 257,000 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Prospect Capital Corporation by 21.6% during the second quarter. Van ECK Associates Corp now owns 2,307,637 shares of the financial services provider’s stock worth $18,738,000 after buying an additional 410,614 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Prospect Capital Corporation by 9.9% during the second quarter. Advisors Asset Management Inc. now owns 1,129,874 shares of the financial services provider’s stock worth $9,175,000 after buying an additional 101,841 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Prospect Capital Corporation by 13.2% during the second quarter. Legal & General Group Plc now owns 963,173 shares of the financial services provider’s stock worth $7,816,000 after buying an additional 112,354 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Prospect Capital Corporation by 2.7% during the second quarter. California Public Employees Retirement System now owns 767,000 shares of the financial services provider’s stock worth $6,228,000 after buying an additional 20,100 shares in the last quarter. 15.20% of the stock is currently owned by institutional investors.

In related news, CFO Brian H. Oswald acquired 50,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was purchased at an average cost of $6.73 per share, with a total value of $336,500.00. Following the acquisition, the chief financial officer now owns 493,373 shares of the company’s stock, valued at approximately $3,320,400.29. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 7.10% of the company’s stock.

Prospect Capital Corporation (NASDAQ PSEC) traded up 0.75% on Friday, reaching $6.72. The company’s stock had a trading volume of 3,268,802 shares. The firm’s 50-day moving average price is $7.29 and its 200 day moving average price is $8.27. Prospect Capital Corporation has a 52-week low of $6.54 and a 52-week high of $9.58.

Prospect Capital Corporation (NASDAQ:PSEC) last issued its quarterly earnings data on Monday, August 28th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $177.21 million. Prospect Capital Corporation had a return on equity of 8.98% and a net margin of 36.08%. The business’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 earnings per share. On average, analysts predict that Prospect Capital Corporation will post $0.78 earnings per share for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 10.71%. The ex-dividend date of this dividend is Monday, October 30th. Prospect Capital Corporation’s dividend payout ratio is currently 102.86%.

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A number of research analysts recently issued reports on PSEC shares. UBS AG upgraded Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 30th. BidaskClub upgraded Prospect Capital Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Raymond James Financial, Inc. upgraded Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 30th. National Securities decreased their price objective on Prospect Capital Corporation from $7.00 to $6.00 and set a “sell” rating for the company in a report on Wednesday, August 30th. Finally, Zacks Investment Research upgraded Prospect Capital Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Prospect Capital Corporation currently has an average rating of “Hold” and an average target price of $7.88.

About Prospect Capital Corporation

Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

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Institutional Ownership by Quarter for Prospect Capital Corporation (NASDAQ:PSEC)

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