CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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Gladstone Investment Corporation (GAIN)

BDC - Debt Focused BDC

Data as of May 6, 2021
Market Price $13.78 (- $0.13)
NAV (Dec. 31, 2020) $11.11 ( $0.00)
Premium / Discount 24.03% (-1.17%)
Fund Info
Inception June 23, 2005
Sponsor Gladstone Management
Website http://ir.gladstoneinv...
Phone (703) 287-5893
Location Virginia
Incorporated Delaware
Staggered Board Yes
Objective: Current income and capital gains through investing in debt and equity securities of established private businesses operating in the United States.
Related Indexes
Debt-Focused Business Development Company (BDC) Index
Premium CEF/BDC Index
Capital & Leverage
Outstanding Shares 33,205,023
Total Assets (Reported: Dec. 31, 2020) $621M
Estimated Total Assets $597M
Net Assets $369M
Market Cap $458M
Portfolio Turnover 6.74%
Debt-to-Equity 0.6449
Total Leverage 38.26%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 12.26%
Non Lev Exp Ratio 8.03%
Gross Asset Expense Ratio 7.15%
Gross Asset Non Lev Exp Ratio 4.69%
Rel Lev Cost 6.45%
Discount Data
Average Discount (3 Yr) -4.00%
Discount Low(3 Yr) -47.96%
Discount High(3 Yr) 29.70%
Discount Rel Range 92.70%
Comp Discount 20.72
Discount St Dev (1Yr) 12.34
Z-Stat (6mo) 1.60
Z-Stat (1Yr) 2.25
Z-Stat (3Yr) 2.37
Comp Z-Stat (6mo) 0.23
Comp Z-Stat (3Yr) 1.21
Distribution Data
Market Yield 6.10%
Income Yield 5.70%
Lev Adj NAV Yield 5.47%
Av Yield on Debt Investments 11.90
Distribution Frequency M
Current Distribution $0.070
Current Income $0.065
Ex-Date 5/18/21
Payable Date 5/28/21
Div Growth (3yr) 4.48%
Dividend Change 2.9% on 1/14/20
Expected Div 7/13/21
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Tax Dividend Data 2020 2018 - 2020
Income 93.9% 80.9%
ST Gains 0% 0%
QDI 0% 15.4%
LT Gains 6.1% 19.1%
RoC 0% 0%
Volume & Liquidity
Average Daily $ (M) $2,330
Avg Volume 30 day 187,714
Avg Volume 90 day 169,105
Volume Trend 11.00%
Comp Volume Trend 25.72%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's BDC Index
Most Correlated Peer (Mk Pr): OCSL 82.0%
Price St Dev (1Yr) 26.5%
NAV St Dev (1Yr) 3.6%
Earnings / Share (12/31/20) $0.063
Adj Core NII Coverage 114.86%
1 Yr Avg NII Coverage 106.24%
1 Yr Avg Adj Core NII Coverage 81.10%
NII Trend -44.11%
Adj Core NII Trend 31.00%
Price Beta (2yr)
vs. S&P 500 (TR)
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
Portfolio Data
Avg Libor Floor % %
% Loans with Libor Floor 0%


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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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