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PNNT - PennantPark Investment: A Covered 14.5% Dividend With Stabilizing NAV
PennantPark Investment Corporation
A couple of weeks ago, I wrote an article about PennantPark Floating Rate Capital (PFLT). Today, I’m focused on its close relative, PennantPark Investment (PNNT). While both PFLT and PNNT have underperformed the market, PNNT’s decline has been even more pronounced. As seen below, PNNT’s share price performance has lagged that of its peer by a 19% margin, for a nearly 50% share price decline since the start of the year.
(Source: Yahoo Finance)
In this article, I evaluate whether if PNNT presents an attractive investment opportunity or is something to