This ETF Invests in Firms with Significant Insider Purchases - DVDN
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 24 2025
0mins
Source: NASDAQ.COM
Insider Buying Activity: The Kingsbarn Dividend Opportunity ETF (DVDN) has 29.9% of its weighted holdings showing insider buying in the past six months.
Trinity Capital Inc (TRIN): TRIN, making up 6.80% of DVDN, has had 3 directors and officers purchase shares recently, with the ETF holding $225,758 worth of TRIN.
Angel Oak Mortgage REIT Inc (AOMR): AOMR, the #16 largest holding in DVDN, has seen 2 directors and officers file Form 4s for share purchases, with the ETF holding $136,902 worth of AOMR.
Disclaimer: The views expressed in the article are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
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Analyst Views on TRIN
Wall Street analysts forecast TRIN stock price to fall
6 Analyst Rating
5 Buy
0 Hold
1 Sell
Moderate Buy
Current: 16.610
Low
13.50
Averages
16.50
High
17.50
Current: 16.610
Low
13.50
Averages
16.50
High
17.50
About TRIN
Trinity Capital Inc. is an internally managed, closed-end, non-diversified management investment company that operates as a business development company. It is a specialty lending company that provides debt, including loans and equipment financings, to growth-stage companies, including venture-backed companies and companies with institutional equity investors. Its investment objective is to generate current income and capital appreciation through its investments across five vertical markets. It seeks to achieve its investment objective by making investments consisting primarily of term loans and equipment financings and working capital loans, equity and equity-related investments. Its equipment financings involve loans for general or specific use, including acquiring equipment that is secured by the equipment or other assets of the portfolio company. It targets investments in growth-stage companies that are typically private companies, including institutional investor-based companies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Increased Market Selectivity: As borrower stress rises, investors are increasingly evaluating Business Development Companies (BDCs) based on portfolio quality and capital access, resulting in larger firms like Ares Capital maintaining spreads between 150 and 200 basis points.
- Rising Default Rates: Fitch Ratings reports that the default rate among U.S. private credit borrowers reached 6% as of April, the highest since August 2024, reflecting a deteriorating market backdrop.
- Uncertain Outlook: Analysts predict that in the coming months, due to downgrades, increased rate volatility, and heightened focus on software-as-a-service (SaaS) exposures, the bond market for BDCs will experience greater differentiation, potentially impacting investor confidence.
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- Market Selectivity: The widening of spreads this year reflects investors' increasing differentiation of BDCs exposed to AI disruptions in SaaS companies, signaling a heightened focus on credit quality and funding risks.
- Rising Default Rates: Fitch Ratings reports that the default rate among U.S. private credit borrowers reached 6% over the past 12 months, the highest since August 2024, indicating a weakening backdrop for the private credit market.
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- Debt Repayment Strategy: Trinity Capital intends to use the net proceeds from this offering to pay down part of its existing debt under the KeyBank credit facility, thereby reducing financial leverage and improving its capital structure.
- Closing Timeline: The offering is expected to close on May 21, subject to customary closing conditions, which will provide timely funding support for the company to navigate market changes.
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- Interest Rate and Payment Terms: The notes will bear an interest rate of 7.0% per annum, with semiannual interest payments commencing on November 21, 2026, providing the company with stable cash flow to support its operational and investment strategies.
- Clear Use of Proceeds: The company intends to use the net proceeds from this offering to pay down a portion of its existing indebtedness under the KeyBank Credit Facility, aiming to optimize its capital structure and reduce financial costs, thereby enhancing financial stability.
- Strong Underwriter Team: Keefe, Bruyette & Woods and MUFG Securities Americas Inc. are acting as joint book-running managers for the offering, indicating strong market confidence in Trinity Capital and its solid reputation among investors.
See More
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- Significant Stake: Following this transaction, Trinity Capital represents 9.24% of Panoramic's 13F AUM, underscoring its importance in the portfolio and enhancing Trinity's market presence.
- Strong Financial Performance: As of March 31, 2026, Trinity Capital reported an annualized dividend yield of 12.79% and a one-year total return of 42.1%, indicating its competitive edge in providing financing solutions to growth-stage companies.
- Investor Risk Consideration: Despite Trinity Capital's impressive stock performance over the past three years, with a total return of approximately 126%, its reliance on the startup ecosystem poses risks, particularly in economic downturns that could impact dividend sustainability.
See More
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- Investment Income Performance: The company generated total investment income of $90.1 million and net investment income of $44.5 million in Q1, translating to earnings of $0.53 per share, achieving a 104% coverage of quarterly distributions, indicating robust profitability and ongoing value creation for shareholders.
- Managed Funds Expansion: Trinity Capital's managed funds now total $400 million across four vehicles, expected to contribute an additional $0.04 per share to net investment income, further enhancing overall return capabilities.
- New Investment Opportunities: The newly announced joint venture with Capital Southwest focuses on first-out senior secured loans in the lower middle market, anticipated to add over $260 million of incremental capacity to the platform, showcasing the company's strategic positioning and growth potential in the market.
See More
