Chart of the Day: Surging SuRo Capital Is Attracting More Attention
The stock has risen sharply of late with the promise of delivering large capital back to shareholders.
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Dividends
One of the best reasons for us buying into SuRo Capital (SSSS) was the very large dividend yield. The annual yield is currently about 3.87%, but SuRo often pays out a special dividend if they decide to cash out of one or a few of their long-term investments.
CoreWeave (CRWV) is one of those long-term investments. SuRo is invested in 34 other names as well, mostly private. This is a good way for the general investing public to participate in the world of private equity.
Over the past six weeks SuRo stock has risen a whopping 30% and just past the old highs achieved in 2021. No question, the stock is now overbought and may be due for a rest, but remember that is only a condition and not a signal.
The candles are blue, reflecting strong bullish on the GoNoGo composite of indicators. Relative strength is bullish and has been steadily rising, while MACD is overbought and remains on a buy signal. Meanwhile, the money flow, in the bottom pane, is impressive, with big institutions coming hard after the stock.
We like SuRo Capital in TheStreet Pro Portfolio and rate it a One, or "buy at anytime."
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At the time of publication, TheStreet Pro Portfolio was long SSSS.
