FDUS - Fidus Investment: The Case Has Become More Attractive After Q1 2024
2024-06-17 16:16:59 ET
Summary
- On a YTD basis, Fidus Investment has delivered positive total returns, but slightly underperformed the BDC index.
- This is mostly related to the FDUS ETF's defensive characteristics, which decrease the beta profile, thus making it less sensitive to systematic price surges in the BDC space.
- Looking at the Q1 2024 earnings dynamics, we will notice mixed dynamics.
- However, peeling back the onion, we will quickly realize that the underlying fundamentals exhibit positive momentum and are supportive of the bullish investment case.
I have been covering Fidus Investment ( FDUS ) since December last year, when I issued my first bullish article on this business development company, or BDC. Since then, I have circulated a follow-up article assessing the Q4, 2023 results, where the conclusion was also clear - i.e., to maintain a buy rating....
Fidus Investment: The Case Has Become More Attractive After Q1 2024