Priority Income Fund, Inc.
PRIF-PD
New York Stock Exchange24.73
USD
+0.01
(+0.04%)
Priority Income Fund, Inc.
PRIF-PD
(New York Stock Exchange)
Recent
price
24.73
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- Business
- Priority Income Fund, Inc. (PRIF-PD) is an externally managed, non-diversified, closed-end fund that generates current income and, secondarily, long-term capital appreciation by investing primarily in senior secured, floating-rate loans to U.S. companies with below-investment-grade debt or in pools of such loans known as collateralized loan obligations (CLOs); it allocates at least 80% of total assets to these first-lien instruments targeting large private and public borrowers across industries with emphasis on capital preservation. The fund, launched in 2013 and domiciled in the United States with management by Priority Senior Secured Income Management, LLC—an affiliate tied to original sponsors Prospect Capital Management LLC and Behringer Harvard Holdings, LLC—previously operated as Priority Senior Secured Income Fund, Inc., and focuses on high-yield fixed income opportunities for retail and institutional investors seeking income from illiquid credit markets. It maintains an 11-year track record of fully covered distributions paid monthly on a quarterly authorization basis, with assets exceeding $900 million as of late 2024. In recent developments, the fund announced in April 2025 its intent to list common shares on a national securities exchange within the next 12 months, engaging Lucid Capital Markets LLC as advisor to enhance shareholder liquidity while noting board discretion based on market conditions; it suspended its common share offering after May 1, 2025, to prepare for this potential listing. Amid elevated redemption requests exceeding its quarterly 2.5% tender offer cap—repurchasing about 60% of tendered shares (roughly 4% of outstanding) at $7.17 NAV as of April 30, 2025—the fund continues quarterly repurchases at NAV. The adviser's operating member also committed to waiving 25 basis points of expenses per annum starting July 1, 2025, for at least one quarter to support operations ahead of any listing.