Prospect Capital Doubles Down on Turning Point Brands Amid 58% Year-Over-Year Growth

Prospect Capital Advisors, LLC has increased its stake in Turning Point Brands by buying 59,250 shares during the third quarter, valued at $9.25 million, representing 4.8% of the fund's reportable assets under management. The increased stake was valued at $6.65 million. Turning Point Brands offers a range of consumer products, including rolling papers, cigars, and vapor products, under the brands Zig-Zag and Stoker's. The company generates revenue by manufacturing, marketing, and distributing tobacco and alternative products through wholesale distributors and retail channels.