Apollo Investment (NASDAQ:AINV) was downgraded from Outperform to Market Perform at Wells Fargo today. The stock closed yesterday at $8.93 on volume of 1.2 million shares, below average daily volume of 1.8 million.

Apollo Investment Corporation is a closed-end management investment company incorporated in the USA. The Company generates both current income and capital appreciation through debt and equity investments.

Potential upside of 4.0% exists for Apollo Investment, based on a current level of $8.39 and analysts' average consensus price target of $8.72. Apollo Investment shares should encounter resistance at the 50-day moving average (MA) of $8.54 and support at its 200-day MA of $7.91.

Apollo Investment share prices have moved between a 52-week high of $9.08 and a 52-week low of $6.55 and closed yesterday at 28% above that low price at $8.39 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Apollo Investment on June 7th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.64. Since that recommendation, shares of Apollo Investment have risen 9.8%. We continue to monitor AINV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.