And now looks very oversold (just an opinion) as they had to manage some non-accruals that spooked the herd. However, this is a mostly senior debt BDC with very transparent management team and an excellent track record. NII was actually up even with the non-accruals and it looks as if their selectivity in adding to portfolio is more responsible for reduction in NAV than any performance issues. PFLT has had margin ratios reduced and it looks like they haven’t actually started to leverage this yet either. Both Art Penn and the CFO have made substantial common stock purchases as well. Lastly, it pays almost 10% monthly distributions.
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