5 Best High-Yield Monthly Dividend Stocks to Buy

4. Prospect Capital Corporation (NASDAQ: PSEC)

Number of Hedge Fund Holders: 7
Dividend Yield: 8.85%

Prospect Capital Corporation (NASDAQ: PSEC) is a business development company headquartered in New York, and it ranks 4th on our list of the best high-yield monthly dividend stocks to buy.

This June, Prospect Capital Corporation (NASDAQ: PSEC) stated that it had funded about $55 million for a first lien senior secured floating rate term loan for the acquisition of Enseo Holdings.

In the fiscal third quarter of 2021, Prospect Capital Corporation (NASDAQ: PSEC) had an NII of $0.19, beating estimates by $0.02. The company’s TII was $159.46 million, up 3.21% year over year and beating estimates by $8.32 million. Prospect Capital Corporation (NASDAQ: PSEC) has also gained 34.10% in the past 6 months and 47.73% year to date.

By the end of the first quarter of 2021, 7 hedge funds out of the 866 tracked by Insider Monkey held stakes in Prospect Capital Corporation (NASDAQ: PSEC) worth roughly $11.6. This is compared to 8 hedge funds in the previous quarter with a total stake value of approximately $18.3 million.