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HTGC - BIZD: The Bottom For BDCs May Be Much Lower
Hercules Capital Inc.
Unfortunately, one of my favorite ideas going into the year turned out to be a dud as the COVID pandemic came like a storm. These are business development companies which are found under the VanEck Vectors BDC Income ETF (BIZD).
These companies are usually levered 2-3X and lend at high yields to smaller businesses. They usually pay very high dividend yields (BIZD's is currently 16% TTM), which are a great source of income when times are good. Unfortunately, times are not great today, which makes them a risky proposition.