Monthly Dividend Stocks #1: Avenue Income Credit Strategies (ACP)
ACP Dividend Yield: 8.35%
Avenue Income Credit Strategies (ACP) interests me for several reasons. For starters, the portfolio manager came from Third Avenue Management, a mutual fund family I respect and have invested with in the past.
The other reason I like ACP is because it invests in distressed debt and equity — meaning assets that are struggling. These assets, if properly evaluated and purchased at the right price, can return multiples of the original investment. ACP currently holds debt of companies including Clear Channel Communications and CHC Helicopter.
These assets are generally not available to the average investor, so ACP is a good way to get involved.