Curiouser And Curiouser
Week Two of 2018 for BDC common stocks was a little strange.
First, there was a burst of news activity. The BDC News Of The Day listed 29 separate developments, not including our Stock Watch updates or earning release announcements.
Where there is news, there is often market movement.
Second, there were a lot of downs and ups where BDC prices were concerned.
On Monday December 11, 2017 women’s accessories retailer Charming Charlie filed for voluntary relief from its creditors, or Chapter 11. The BDC Reporter had warned of a likely Chapter 11 filing a few days ago. The Company hopes to use the court protection to restructure its balance sheet and shrink down the number of stores in the chain, many of which are based in malls.
BDC COMMON STOCKS
In a holiday-shortened week, the BDC Sector did pretty much one thing: go up. To $21.26.
For which investors will be thankful.
After all, at the beginning of the month the UBS Traded Note with the ticker BDCS was at a YTD Low of $20.43.
That was (10%) down in the period and (15%) off the YTD and multiple year high of $23.87 on March 31, 2017.
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