30 Day Dividends Position Close: Sell HTGC
The position in Hercules Technology Growth Capital Inc (NYSE:HTGC) was established to profit from the between ex-dividend date share price swing. The company reported good Q3 results yesterday, so we are going to take profits today. The shares are scheduled to go ex-dividend on November 12, so we want to get out before the price drop associated with the ex-dividend event.
The HTGC share price is now about 6% above our entry price on September 22. The trade has been open for 45 days, so the 6% gain would be about 50% annualized.
Trade Recommendation: Close any open position in HTGC at or near the current $11.60 per share. I will use today’s (November 6) closing price to track the trade results.