Top Buys by Top Brass: CEO/Officer of Advisor Levkowitz's $100.1K Bet on TCPC

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 $100.1K invested across 2 purchases by Howard Levkowitz, CEO/Officer of Advisor at TCP Capital Corp. (TCPC).

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Levkowitz bets big on TCPC:
Purchased Insider Title Shares Price/Share Value
05/11/2015 Howard Levkowitz CEO/Officer of Advisor 1,499 $15.50 $23,234.50
06/26/2015 Howard Levkowitz CEO/Afficer of Advisor 5,000 $15.38 $76,900.00

Levkowitz's average cost works out to $15.41/share. In trading on Monday, bargain hunters could buy shares of TCP Capital Corp. ( TCPC) and achieve a cost basis lower than Levkowitz, with shares changing hands as low as $15.20 per share. Shares of TCP Capital Corp. were changing hands at $15.40 at last check, trading down about 0.3% on Monday. 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 $15.40.

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

According to the ETF Finder at ETF Channel, TCPC makes up 2.98% of the BDC Income ETF ( BIZD) which is trading lower by about 0.5% on the day Monday.

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