Priority Income Fund (non traded) keeps right on churning out new shares—and I like it.
PRIF is a closed end fund and the leverage they use in the fund is composed of almost all term preferred stock–with 1 perpetual tossed into the mix. Simply the more common shares they sell the better asset coverage we have for our holdings–I hold 2 of the term preferred’s. Of course being a closed end fund they must maintain a 200% coverage on senior securties (debt and/or preferred stock). As of 6/30/2022 PRIF had coverage of 295%.