MVC Capital, Inc. (MVC) Position Increased by Boothbay Fund Management LLC
Boothbay Fund Management LLC raised its position in MVC Capital, Inc. (NYSE:MVC) by 50.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,000 shares of the investment management company’s stock after purchasing an additional 6,693 shares during the quarter. Boothbay Fund Management LLC owned 0.09% of MVC Capital worth $200,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. BB&T Securities LLC raised its position in MVC Capital by 12.7% in the second quarter. BB&T Securities LLC now owns 12,638 shares of the investment management company’s stock valued at $124,000 after purchasing an additional 1,429 shares during the last quarter. Legal & General Group Plc increased its stake in shares of MVC Capital by 6.3% in the second quarter. Legal & General Group Plc now owns 54,808 shares of the investment management company’s stock valued at $542,000 after buying an additional 3,256 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of MVC Capital by 2.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 189,160 shares of the investment management company’s stock valued at $1,893,000 after buying an additional 5,327 shares during the period. Capital Investment Advisory Services LLC acquired a new stake in shares of MVC Capital in the third quarter valued at about $219,000. Finally, Advisors Asset Management Inc. increased its stake in shares of MVC Capital by 12.0% in the third quarter. Advisors Asset Management Inc. now owns 95,817 shares of the investment management company’s stock valued at $959,000 after buying an additional 10,250 shares during the period. Hedge funds and other institutional investors own 41.63% of the company’s stock.
Separately, Maxim Group initiated coverage on MVC Capital in a research note on Thursday, October 12th. They issued a “buy” rating and a $12.50 price target for the company.
MVC Capital announced that its Board of Directors has authorized a stock repurchase plan on Monday, October 23rd that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the investment management company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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MVC Capital Company Profile
MVC Capital, Inc is a non-diversified closed-end management investment company. The Company’s investment objective is to seek to maximize total return from capital appreciation and/or income. The Company’s segments are its investing operations as a business development company, which includes MVC Cayman and MVC Turf, LLC and MVC Financial Services, Inc (MVCFS).
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