Trade Entry: Hercules Technology Growth Capital
Today I am recommending a new trade entry for Hercules Technology Growth Capital (NYSE:HTGC).
This BDC is one of the high yield companies I track for quarterly dividend swing trades. At $10.76 per share, the price has hit this level twice since last ex-dividend date on August 13. We are looking for a share price gain before the next dividend payment, which should be announced on or about November 6 for a November 12 ex-dividend date.
HTGC has produced an average 12% low to high quarterly share price swing over the last two years. The trade goal will be a 7% gain from today’s closing price.
Trade recommendation: Buy HTGC up to $10.95 per share. Target price: $11.75. If the target is not hit, shares will be sold before the next ex-dividend date in November.