Good and bad news

I had completely forgotten that Gladstone Investment Corporation Business Development Company (GAIN) was going to make a big irregular dividend this month. It was a pleasant surprise to log into the bank for the purpose of acquiring additional shares of Fidus Investment Corporation Common Stock (FDUS) and to see money that I did not expect.

We bought a number of shares in (FDUS) and are approaching our first milestone of the number of shares we intend to own in (FDUS). In addition to (FDUS), we also bought a small number of shares in Blackstone Secured Lending Fund Common Shares of Beneficial Interest (BXSL).

To my dismay, I discovered that two of our holdings have cut their dividends, Apollo Commercial Real Estate Finance, Inc (ARI) and Blackstone Mortgage Trust, Inc. Common Stock (BXMT). Neither (ARI) nor (BXMT) is one of our larger holdings, rather the opposite. (ARI) cut its dividend from ¢35 to ¢25 and (BXMT) from ¢62 to ¢47.