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 $102.5K by Arthur H. Penn, CEO at Pennantpark Floating Rate Capital (PFLT - Get Report).

Click here to find out which other top insider buys by the ''top brass'' you need to know about »

Penn bets big on PFLT:
Purchased Insider Title Shares Price/Share Value
02/13/2018 Arthur H. Penn Chairman and CEO 8,000 $12.81 $102,451.20

Penn's average cost works out to $12.81/share. Shares of Pennantpark Floating Rate Capital were changing hands at $12.87 at last check, trading up about 0.1% on Thursday. The chart below shows the one year performance of PFLT shares, versus its 200 day moving average:

Pennantpark Floating Rate Capital Chart

Looking at the chart above, PFLT's low point in its 52 week range is $12 per share, with $14.65 as the 52 week high point — that compares with a last trade of $12.87.

The current annualized dividend paid by Pennantpark Floating Rate Capital is $1.14/share, currently paid in monthly installments, and its most recent dividend ex-date was on 02/15/2018. Below is a long-term dividend history chart for PFLT, which can be of good help in judging whether the most recent dividend with approx. 8.8% annualized yield is likely to continue.


According to the ETF Finder at ETF Channel, PFLT makes up 2.22% of the BDC Income ETF ( BIZD) which is trading up by about 0.6% on the day Thursday.