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BDC's Removed From S & P Indices

TSP_TransferTSP_Transfer
in Off-Topic
Business Development Companies
BDCL
S&P: BDCs no longer eligible to be in U.S. indices

"After consulting with clients concerned with certain reporting requirements, expenses, and investment restrictions relating to business development companies (BDCs), S&P Dow Jones has decided to remove all identified BDCs from its U.S. Indices.
Press release
BDC ETFs: BDCL, BDCS, BIZD
Earlier: Prospect Capital (PSEC -2.7%) is removed from the S&P 600 SmallCap Index and Apollo Investment (AINV -7.3%) is removed from the S&P 400 MidCap Index.
Prospect's market cap is $3.4B, Apollo's $1.9B. Other BDCs with market caps over $1B: Fifth Street (FSC -0.8%), Ares Capital (ARCC -1.5%), American Capital (ACAS -1.7%), Main Street (MAIN -1.7%), Hercules Technology (HTGC -2%). Close enough to $1B for an argument: Solar Capital (SLRC -1.8%) and Golub Capital (GBDC -0.2%).

Comments

  • Kaspa
    Had owned ARCC for quite a while and generally done well. Sold it late 2013 to diversify a bit.
  • MarkMark
    Kaspa, I own FSC and PSEC and I'm still expecting them to do well. They might lose some in terms of trading volume by no longer being listed in the Indices but that shouldn't affect how they go about their business.
  • TSP_TransferTSP_Transfer
    I continue to own ARCC and PSEC. Might be a good time to look @Hercules Technology HTGC on the weakness.
  • Kaspa
    Mark said:

    Kaspa, I own FSC and PSEC and I'm still expecting them to do well. They might lose some in terms of trading volume by no longer being listed in the Indices but that shouldn't affect how they go about their business.

    In fact, I was thinking this could be a buying opportunity if there is a temporary drop. Just not finding time to research and pull trigger.
  • TSP_TransferTSP_Transfer
    Kaspa,not a bad place for research and ideas.
    http://seekingalpha.com/author/bdc-buzz/articles
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