Raymond James Financial Services Advisors Inc. maintained its stake in shares of GSV Capital Corp (NASDAQ:GSVC) during the 2nd quarter, according to its most recent filing with the SEC. The fund owned 23,000 shares of the investment management company’s stock at the end of the 2nd quarter. Raymond James Financial Services Advisors Inc.’s holdings in GSV Capital Corp were worth $100,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of GSVC. UBS Group AG boosted its holdings in GSV Capital Corp by 7.3% during the 1st quarter. UBS Group AG now owns 26,138 shares of the investment management company’s stock valued at $117,000 after acquiring an additional 1,780 shares during the period. Wells Fargo & Company MN raised its position in GSV Capital Corp by 5.9% during the 2nd quarter. Wells Fargo & Company MN now owns 87,301 shares of the investment management company’s stock valued at $379,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC bought a new position in GSV Capital Corp during the 2nd quarter valued at approximately $389,000. Institutional investors own 28.90% of the company’s stock.
In other GSV Capital Corp news, CEO Mark D. Klein purchased 10,000 shares of the stock in a transaction on Wednesday, September 27th. The stock was acquired at an average price of $5.02 per share, with a total value of $50,200.00. Following the transaction, the chief executive officer now directly owns 97,340 shares of the company’s stock, valued at approximately $488,646.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 71,772 shares of company stock valued at $365,902 in the last ninety days. 0.70% of the stock is currently owned by corporate insiders.
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GSV Capital Corp announced that its board has authorized a stock repurchase program on Tuesday, August 8th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the investment management company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Separately, ValuEngine raised GSV Capital Corp from a “hold” rating to a “buy” rating in a research report on Friday, September 1st.
GSV Capital Corp Company Profile
GSV Capital Corp. (GSV Capital) is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to maximize its portfolio’s total return, principally by seeking capital gains on its equity and equity-related investments. The Company invests principally in the equity securities, which are venture-capital-backed emerging companies.
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