PROP investment news following open.....NEWT under 16 moving forward / take on recent Wells Fargo index addition

 

 

Amt fairly substantial for them.....Has been seeing ongoing support near .14..

PROP	Propell Announces $5,000,000 Strategic Equity Investment by Ervington Investments at Marketwired Thu 9:43am

Propell Technologies Group, Inc. (PROP)

 -OTC BB  Watchlist

0.1525  0.0075(5.17%) 10:09AM EST

 

 

 

 

 

 

Sharing a recent NBT update on NEWT wells fargo news....Expanding on just how important being added to the index is....Recall constant mentions on steady inching since original company related pr....Debate any pullback and/or under 16, given...

Newtek Business Services Corp. (NEWT)

 -NasdaqCM

15.90  0.18(1.11%) 10:28AM EST - Nasdaq Real Time Price

 

 

Newtek Business Services Corp. (NEWT) Added to Well Fargo BDC Index

By Tobin Smith | February 17, 2015, 2:38pm GMT

Newtek Business Services Corp ., (NEWT), an internally managed business development company ("BDC") announced that it has been included in the Wells Fargo Business Development Company Index (Symbol: WFBDC), which currently includes 44 business development companies and has a total market capitalization of $131.6⁽¹⁾ billion.

Formed in 2011, the Index is a float-adjusted, capitalization-weighted index that is intended to measure the performance of all business development companies that are listed on the New York Stock Exchange or NASDAQ and satisfy specified market capitalization and other eligibility requirements.

Currently, two exchange traded notes ("ETNs") are linked to the price and yield performance of the Wells Fargo Business Development Company Index, namely the UBS ETRACS Wells Fargo Business Development Company ETN (BDCS), and the UBS ETRACS 2X Leveraged Long Wells Fargo Business Development Company ETN (BDCL).

Barry Sloane, President, Chairman, and Chief Executive Officer of Newtek Business Services Corp. commented, "We are extremely pleased to have been included in the Wells Fargo Business Development Company Index. With two well-recognized ETNs linked to this index, we believe Newtek will attract a broader range and number of investors. We look forward to increasing our recognition as an internally managed BDC in the market."

NBTER estimates about 5% of NEWT's 6.2 million share float would need to be acquired by the two ETNs to achieve index weighting.

STILL a great investment at $16…we first recommended at $11.50 before they transformed into a business development company.

Check out our exclusive interview with the CEO of Newtek.

Disclaimer

 

Source: http://bit.ly/17eJXGe