Land This Bargain 9.3% Yielder Even Cheaper Than CEO/Officer of Advisor Levkowitz Did

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 May 11, TCP Capital Corp.'s CEO/Officer of Advisor, Howard Levkowitz, invested $23,234.50 into 1,499 shares of TCPC, for a cost per share of $15.50. 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.

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In trading on Thursday, bargain hunters could buy shares of TCP Capital Corp. ( TCPC) and achieve a cost basis even cheaper than Levkowitz, with shares changing hands as low as $15.47 per share. It should be noted that Levkowitz has collected $0.36/share in dividends since the time of their purchase, so they are currently up 2.1% on their purchase from a total return basis. TCP Capital Corp. shares are currently trading up about 0.5% on the day. The chart below shows the one year performance of TCPC shares, versus its 200 day moving average:

TCP Capital Corp. Chart

Looking at the chart above, TCPC's low point in its 52 week range is $14.93 per share, with $18.55 as the 52 week high point — that compares with a last trade of $15.58. By comparison, below is a table showing the prices at which TCPC insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
05/11/2015 Howard Levkowitz CEO/Officer of Advisor 1,499 $15.50 $23,234.50

The current annualized dividend paid by TCP Capital Corp. is $1.44/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 06/12/2015. Below is a long-term dividend history chart for TCPC, which can be of good help in judging whether the most recent dividend with approx. 9.3% annualized yield is likely to continue.

TCPC+Dividend+History+Chart

TCPC makes up 3.64% of the BDC Income ETF ( BIZD)

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