Close Your Position in KCAP Financial for 13.25% Gain
The open 30 Day Dividends position in KCAP Financial (Nasdaq:KCAP) carries a revised target price of $7.60, which the shares are above to start the trading day today. As a result, I am closing out the position, and will use today’s closing price to track the profit on the trade.
The KCAP position was initiated on January 16, at a share price of $6.71. The current $7.60 price represents a 13.25% raw gain in 46 days, or 107% annualized.
Recommendation: Sell KCAP today above $7.60 to close the position and lock in a profit.