Noting the lower size of the investment portfolio, Horizon Technology Finance (HRZN -11.3%) last night cut its monthly distribution to $0.10 per share from $0.12.
The portfolio size at Q3's end of $208.2M fell from $249M a year ago, thanks in part to a lower pace of new investments, but also to some credit quality deterioration. As of quarter-end, there were four investments totaling $12M ranked with a "1" - a high degree of risk of loss of principal. This compares to one investment totaling $500K at the start of the year.
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