TPVG: Stable 11% Yield With Pre-IPO VC Tech Exposure For Higher Returns

Summary

  • TPVG has rallied 13% since my previous article “11.7% Yield Positioned For Rising Rates And Ready To Rally” partially due to the expected earnings beat for Q2.
  • TPVG recently completed an equity offering, and this article discusses some of the pros and cons as well as reasons to purchase the stock depending on pricing.
  • Also predicted, TPVG recently obtained shareholder approval to reduce its asset coverage requirement from 200% to 150%, effective June 22, 2018.
  • This article also discusses the potential impact from rising interest rates and the recent total returns from my previously announced purchases of higher quality BDC stocks, including TPVG.

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TPVG Article Follow-Up:

This article is a followup to “11.7% Yield Positioned For Rising Rates And Ready To Rally“:

As predicted in the article linked above, the stock price for TriplePoint Venture Growth (TPVG) rallied 13% shortly after the article and the company easily beat analyst expected EPS by $0.10 per share. As mentioned in the previous article, TPVG was expected to easily cover its dividend due to prepayment-related income from its $50 million loan to Ring, Inc. driving an effective yield of 17.2% as shown below.

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