Item 5. Market for Registrant’s Common Equity
Item
5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Since
January 4, 2021, the common stock trades on the NASDAQ Global Market under the trading symbol “PFX.”
As
of September 30, 2023, we had 11 stockholders of record of our common stock, which did not include stockholders for whom shares are held
in “nominee” or “street name.”
The
following table sets forth, for the periods indicated, the range of high and low closing prices of our common stock and the sales price
as a percentage of the net asset value per share of our common stock.
Closing Market Price
Premium/
(Discount) of
High Market
Price to
Premium/
(Discount) of
Low Market
Price to
NAV (1)
High
Low
NAV (2)
NAV (2)
Fiscal year ending September 30, 2023
Fourth Quarter
$ 70.75
$ 40.00
$ 35.71
(43.46 )%
(49.53 )%
Third Quarter
67.01
39.00
32.00
(41.80 )%
(52.25 )%
Second Quarter
62.70
39.14
32.49
(37.58 )%
(48.18 )%
First Quarter
59.38
36.49
31.05
(38.55 )%
(47.71 )%
Fiscal year ending September 30, 2022
Fourth Quarter
$ 57.49
$ 39.37
$ 32.61
(31.52 )%
(43.28 )%
Third Quarter
58.74
43.00
35.75
(26.80 )%
(39.14 )%
Second Quarter
62.94
42.00
36.10
(33.27 )%
(42.64 )%
First Quarter
58.99
43.50
40.50
(26.26 )%
(31.34 )%
Fiscal year ending September 30, 2021
Fourth Quarter
$ 57.08
$ 43.35
$ 40.10
(24.05 )%
(29.75 )%
Third Quarter
58.49
42.76
32.80
(26.89 )%
(43.92 )%
Second Quarter
55.91
33.99
27.70
(39.21 )%
(50.46 )%
First Quarter
52.94
29.88
18.14
(43.56 )%
(65.73 )%
(1)
Net asset value per share
is determined as of the last day in the relevant quarter and therefore may not reflect the net asset value per share on the date
of the high and low market prices. The net asset value per share shown is based on outstanding shares at the end of the period.
(2)
Calculated as of the respective
high or low closing market price less quarter end net asset value divided by the quarter end net asset value.
For
all periods presented in the table above, there was no return of capital included in any distribution.
35
Shares
of business development companies may trade at a market price that is less than the value of the net assets attributable to those shares.
The possibility that our shares of common stock will trade at a discount or premium to net asset value is separate and distinct from
the risk that our net asset value will decrease.
The last reported closing price of our common stock on December 21,
2023 was $38.25 per share, approximately 54.06% of the Company’s then-current NAV. As of December 21, 2023 we had 11 stockholders
of record of our common stock, which did not include stockholders for whom shares are held in “nominee” or “street name.”
Sales
of Unregistered Securities
We did not
sell any securities within the past three years that were not registered under the Securities Act of 1933.
Stock
Performance Graph
This
graph compares the stockholder return on our common stock from September 30, 2018 to September 30, 2023 with that of the Standard &
Poor’s 500 Stock Index and the Russell 2000 Financial Services Index. This graph assumes that on September 30, 2018, $100 was invested
in our common stock, the S&P 500 Index, and the Russell 2000 Financial Services Index. The graph also assumes the reinvestment of
all cash dividends prior to any tax effect. Investment performance shown for periods prior to January 1, 2021 was achieved pursuant to
our former externally-managed structure.
The
graph and other information furnished under this Part II Item 5 of this annual report on Form 10-K shall not be deemed to be “soliciting
material” or to be “filed” with the SEC or subject to Regulation 14A or 14C, or to the liabilities of Section 18 of
the Exchange Act. The stock price performance included in the below graph is not necessarily indicative of future stock performance.
36
Issuer
Purchases of Securities
Information
relating to the Company’s purchases of its common stock during the year ended September 30, 2023 is as follows:
Month
Ended
Shares
Repurchased
Repurchase
Price Per
Share
Aggregate
Consideration for
Repurchased Shares
October 2022
701
$35.20 -
$36.14
14,434
November 2022
1,103
$34.53 -
$35.28
38,790
December 2022
1,501
$33.26 -
$34.84
51,295
January 2023
2,052
$32.78 -
$34.84
68,665
February 2023
3,131
$33.06 -
$39.03
115,430
March 2023
2,003
$37.02 -
$38.89
76,214
April 2023
649
$35.79 -
$37.03
23,671
May 2023
100
$36.53 -
$36.53
3,658
June 2023
2,300
$33.63 -
$38.76
85,556
August 2023
14,751
$36.98 - $39.41
575,728
September 2023
125
$38.11
- $38.11
4,772
Total
28,416
1,058,213
Item
6. [Reserved]
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