Horizon Technology tumbles after dividend cut

|About: Horizon Technology Finance (HRZN)|By:, SA News Editor

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.

Horizon Technology Finance earnings center

Subscribe for full text news in your inbox