Co-produced with Trapping Value
While the market continues to flirt with all-time highs, certain sectors have been left behind. Notably in this space is the Business Development Corporations, or BDCs, where the stresses in the lower rung bonds are creating lower prices and wider discounts. One such opportunity we had identified some time back was Pennant Park Investment Corporation (PNNT), which yields 11.4%. PNNT is one of the BDCs that we currently find very attractive. We had done a report on it recently and the stock has treaded water since then. This has