Prospect Capital’s Series A Preferred Stock Surpasses 8% Yield Milestone

On Tuesday, shares of Prospect Capital Corporation’s 5.35% Series A Cumulative Preferred Stock (Symbol: PSEC.PRA) were yielding over 8%, trading as low as $16.48. This yield significantly exceeds the average of 6.73% in the “Financial” preferred stock category, according to Preferred Stock Channel. At the last close, PSEC.PRA was trading at a 32.68% discount to its liquidation preference, compared to the category average discount of 9.96%.

As of the latest trading session, PSEC.PRA has experienced a decline of about 0.4% on the day, while the common shares (Symbol: PSEC) rose approximately 0.7%.