BDCs have been particularly hard hit in the 2020 market pullback, which has affected the vast majority of businesses, large and small. Since BDCs invest in small and medium size businesses, investors have fled this market sub-sector, due to deep concerns about how many of the BDCs' portfolio companies would survive the COVID-19 lockdowns. This stock yields 13.6% with strong 1.4X coverage. Mgt. maintained the distributions for June and Sept. It has 90% 1st lien investments in its portfolio.
Capital Southwest Corporation (NASDAQ:CSWC) is an internally managed business development company, BDC, specializing in credit and private equity and venture capital investments in lower and middle market companies. It doesn't invest in startups, publicly traded companies, real estate developments, project finance opportunities, oil and gas exploration businesses, troubled companies, turnarounds, and companies in which significant senior management is departing.
Source: Seeking Alpha
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