5 High Yield Monthly Dividend Stocks

4. Prospect Capital Corporation (NASDAQ:PSEC)

Dividend Yield as of January 14: 8.22%

Number of Hedge Fund Holders: 7

Prospect Capital Corporation (NASDAQ:PSEC) is an American company engaging in sponsor-backed transactions and direct lending, offering private debt and equity to middle market companies. 

Raymond James analyst Robert Dodd upgraded Prospect Capital Corporation (NASDAQ:PSEC) on November 11 to Market Perform from Underperform without a price target. The company’s Q3 earnings beat, and NAV per share growth was above average and the analyst sees a risk/reward in-line with peers at current levels.

On November 8, Prospect Capital Corporation (NASDAQ:PSEC) declared a $0.06 dividend per share, to be paid monthly on December 23, January 20, and February 17. The company offers an 8.22% yield as of January 14. 

Publishing its Q3 results on November 8, Prospect Capital Corporation (NASDAQ:PSEC) posted earnings per share of $0.21, exceeding estimates by $0.03. Revenue for the quarter gained 18.61% year-over-year, reaching $169.47 million, surpassing estimates by $3.16 million. 

Among the hedge funds tracked by Insider Monkey during Q3 2021, Two Sigma Advisors is the leading Prospect Capital Corporation (NASDAQ:PSEC) stakeholder, elevating its position in the company by 3875%, holding 1.97 million shares worth $15.2 million. Overall, 7 hedge funds were bullish on Prospect Capital Corporation (NASDAQ:PSEC) at the end of September, down from 11 funds in the preceding quarter.