Priority Income Fund, Inc.
PRIF-PK
New York Stock Exchange21.59
USD
-0.11
(-0.12%)
Priority Income Fund, Inc.
PRIF-PK
(New York Stock Exchange)
Recent
price
21.59
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- Business
- Priority Income Fund, Inc. (PRIF-PK) is an externally managed, non-diversified, closed-end fund that generates current income and pursues long-term capital appreciation by investing primarily in securitized pools of first-lien senior secured loans to large U.S. companies and in such loans directly in primary or secondary markets; it allocates at least 80% of total assets to these floating-rate instruments, focusing on borrowers with debt rated below investment grade, substantial EBITDA exceeding $100 million on average, and first-lien priority claims backed by collateral. The fund maintains a highly diversified portfolio across numerous industries, emphasizing capital preservation through investments in loans to prominent firms often rated by Moody's and S&P, with historical metrics showing low default rates and yields significantly above U.S. Treasuries; it offers common shares alongside preferred stock series including 7.00% Series D Term Preferred due 2029 (PRIF-PRD), 6.000% Series J Term Preferred due 2028 (PRIF-PRJ), 7.000% Series K Cumulative Preferred (PRIF-PRK), and 6.375% Series L Term Preferred due 2029 (PRIF-PRL). Headquartered in New York and managed by Priority Senior Secured Income Management, LLC—a team affiliated with Prospect Capital Management L.P., which oversees over $8 billion in assets—the fund, launched in 2013, operates principally in the U.S. market targeting institutional-grade credit opportunities. Recent developments include the June 2025 redemption of all outstanding 6.125% Series I Term Preferred Stock due 2028 at $25 per share plus accrued dividends, streamlining its capital structure; in September 2025, the board declared monthly base and bonus common shareholder distributions for September through November, alongside preferred dividends, achieving a 22.0% annualized total cash distribution rate on net asset value; the fund also pursues charter amendments to facilitate a potential public listing.