5 Cheap Monthly Dividend Stocks To Buy

2. Horizon Technology Finance Corporation (NASDAQ:HRZN)

Share Price as of January 13: $12.40

Horizon Technology Finance Corporation (NASDAQ:HRZN) is a Connecticut-based venture lending platform that deals in structural debt products for tech companies. On January 11, the company announced that it has funded over $114 million worth of new loans in Q4 2022, up 8% from the previous quarter. As of January 13, the stock’s share price stands at $12.40, which makes it one of the cheap monthly dividend stocks on our list.

On November 3, Horizon Technology Finance Corporation (NASDAQ:HRZN) announced a 10% hike to its monthly dividend at $0.11 per share and also announced a special dividend of $0.05 per share. The stock’s dividend yield on January 13 came in at 10.62%.

As of the close of Q3 2022, 5 hedge funds tracked by Insider Monkey owned stakes in Horizon Technology Finance Corporation (NASDAQ:HRZN), the same as in the previous quarter. These stakes are worth over $6 million collectively. Among these hedge funds, Two Sigma Advisors was the company’s leading stakeholder in Q3.

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