Van ECK Associates Corp Boosts Stock Holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Van ECK Associates Corp grew its holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,985,730 shares of the asset manager's stock after acquiring an additional 187,465 shares during the period. Van ECK Associates Corp owned 2.39% of PennantPark Floating Rate Capital worth $21,704,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PFLT. Wilmington Savings Fund Society FSB bought a new position in PennantPark Floating Rate Capital in the third quarter worth approximately $39,000. Calton & Associates Inc. bought a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at $119,000. Jmac Enterprises LLC bought a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at $120,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter valued at $131,000. Finally, Paloma Partners Management Co bought a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at $174,000. 19.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. StockNews.com upgraded shares of PennantPark Floating Rate Capital from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th. Raymond James assumed coverage on shares of PennantPark Floating Rate Capital in a research report on Friday, December 20th. They set a "market perform" rating on the stock.

PennantPark Floating Rate Capital Price Performance

PFLT traded up $0.08 during trading on Tuesday, hitting $11.17. 923,514 shares of the company traded hands, compared to its average volume of 1,148,233. The company has a market cap of $929.26 million, a PE ratio of 7.81 and a beta of 1.65. The stock's 50-day simple moving average is $11.03 and its two-hundred day simple moving average is $11.20. PennantPark Floating Rate Capital Ltd. has a 1 year low of $10.28 and a 1 year high of $12.02. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.63.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be paid a dividend of $0.1025 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 annualized dividend and a yield of 11.02%. PennantPark Floating Rate Capital's payout ratio is 86.01%.

About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.