PennantPark Floating Rate: 16% Yield, Low Risk
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Show Notes
PennantPark Floating Rate Capital: A High-Yield Opportunity Amid Market Volatility
Despite recent market dips, PennantPark Floating Rate Capital offers a 16% yield, making it an attractive investment. This business development company provides loans to middle-market firms, earning a weighted average yield of 9.9%. With nearly all loans carrying floating rates, its well-positioned to adapt to potential Fed policy shifts. The companys low risk profile, with only 0.5% delinquency, and diversified portfolio across 160 companies, make it a solid choice. Shares currently trade at a 26% discount to net asset value, presenting a valuable opportunity for long-term investors.
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