Private Management Group Inc. bought a new stake in KCAP Financial, Inc. (NASDAQ:KCAP) during the third quarter, Holdings Channel reports. The fund bought 83,978 shares of the company’s stock, valued at approximately $389,000. Private Management Group Inc. owned approximately 0.23% of KCAP Financial at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Diversified Trust Co raised its position in KCAP Financial by 3.4% in the third quarter. Diversified Trust Co now owns 200,641 shares of the company’s stock valued at $929,000 after buying an additional 6,638 shares during the last quarter. Kellner Capital LLC raised its position in KCAP Financial by 6.5% in the second quarter. Kellner Capital LLC now owns 165,036 shares of the company’s stock valued at $647,000 after buying an additional 10,000 shares during the last quarter. Algert Global LLC acquired a new position in KCAP Financial during the third quarter valued at approximately $328,000. Sheaff Brock Investment Advisors LLC raised its position in KCAP Financial by 1.0% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 47,475 shares of the company’s stock valued at $186,000 after buying an additional 480 shares during the last quarter. Finally, Acrospire Investment Management LLC raised its position in KCAP Financial by 102.0% in the third quarter. Acrospire Investment Management LLC now owns 44,788 shares of the company’s stock valued at $207,000 after buying an additional 22,614 shares during the last quarter. 14.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of KCAP Financial, Inc. (NASDAQ:KCAP) opened at 4.08 on Friday. The stock’s 50 day moving average is $3.99 and its 200-day moving average is $4.17. KCAP Financial, Inc. has a 1-year low of $2.65 and a 1-year high of $4.89. The stock’s market cap is $149.92 million.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 27th. Shareholders of record on Friday, January 6th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 4th. This represents a $0.48 annualized dividend and a yield of 11.76%. KCAP Financial’s payout ratio is presently -141.17%.
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Separately, Zacks Investment Research lowered shares of KCAP Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 9th.
About KCAP Financial
KCAP Financial, Inc is an internally managed, non-diversified closed-end investment company. The Company has approximately three principal areas of investments. First, the Company originates, structures and invests in senior secured term loans and mezzanine debt primarily in privately-held middle market companies (the debt securities portfolio).
Want to see what other hedge funds are holding KCAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KCAP Financial, Inc. (NASDAQ:KCAP).
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