I've More Than Tripled My Stake in This Historically Cheap, High-Octane Dividend Stock That's Yielding 13.2%
An investor with 28 years of experience has significantly increased their position in PennantPark Floating Rate Capital (PFLT), a business development company offering a 13.2% dividend yield. Despite concerns about loan portfolios tied to unproven businesses and private credit market risks, the company's diversified portfolio across 159 companies, focus on first-lien secured debt, and 26% discount to net asset value make it an attractive value investment in an expensive market.