Thursday, November 8, 2012

PSLV offering

Today after the close PSLV did an offering. They are buying more silver bars so they can issue more shares. PSLV often trades above Net Assett Value so the aftermarket price is down to $13.13. The NAV is $12.47. Silver was up today but the gains of the day will be lost due to the offering and I suspect the open tomorrow will be somewhere around $13.13 plus any larger move in silver if there is one. Take this as an opportunity to buy more because Sprott seems to buy just before silver goes up. The last offering was in the summer when silver hit the low for the year. This will take more silver off the market for the long term which is bullish for something there is a limited quantity of.
   The RNDY stock will not do well, they had a poor earnings and will have to cut the dividend in half. I took the money out and put it into silver- that is how I found out about the offering in PSLV.

PSEC has a good earnings report with extra income to both pay the dividend and reinvest some into more investments.  The book value is up $.05 from last quarter to $10.88. They closed at $10.58 but was trading at $10.64 after market.

AGNC is up .72% to $30.95; most REITS seemed to go up today.

Silver is $32.41 at 7:41 pm Gold is 1734.95.

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