Profile
Sector:
Financial ServicesIndustry:
Asset ManagementCountry:
United StatesIPO:
25 February 2011Website:
http://www.agmfunds.comNext earnings report:
N/ALast dividends:
21 June 2024Next dividends:
N/APrice
regular market | Mon, 01 Jul 2024 19:59:57 GMTAnalysts recommendations
Institutional Ownership
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AFT Latest News
NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- Apollo Senior Floating Rate Fund Inc. (NYSE: AFT) and Apollo Tactical Income Fund Inc. (NYSE: AIF) today declared pre-merger distributions to their respective stockholders. The specific distribution dates and amounts are detailed below. As previously announced, AFT and AIF received stockholder approval of the necessary proposals related to their mergers with and into MidCap Financial Investment Corporation (NASDAQ: MFIC), and the mergers are currently expected to close in late July, subject to the satisfaction of customary closing conditions. The pre-merger distributions are intended to fully distribute AFT's and AIF's accumulated undistributed net investment income prior to the closing of their mergers with and into MFIC, as required pursuant to the terms of the merger agreements previously signed by AFT and AIF.
Apollo Senior Floating Rate Fund is significantly up since the last rating, with total return exceeding 20%. MidCap Financial Investment Corporation is acquiring AFT and the Apollo Tactical Income Fund, leading to changes in the management platform and collateral pool. AFT will shift towards more illiquid middle market collateral post-merger, prompting a 'Sell' rating and suggesting investors explore alternative leveraged loan CEFs.
NEW YORK, June 21, 2024 (GLOBE NEWSWIRE) -- Apollo Senior Floating Rate Fund Inc. (NYSE: AFT) and Apollo Tactical Income Fund Inc. (NYSE: AIF) (AFT and AIF, together, the “CEFs”) today announced that both CEFs received stockholder approval of the necessary proposals related to their previously announced mergers with and into MidCap Financial Investment Corporation (NASDAQ: MFIC) at the AFT and AIF special meetings of stockholders reconvened on June 21, 2024. Approximately 88% of AFT's common shares represented at its special meeting (excluding votes abstained or withheld), or approximately 53% of AFT's common shares outstanding, voted in favor of the proposal, satisfying AFT's stockholder approval requirement. Approximately 87% of AIF's common shares represented at its special meeting (excluding votes abstained or withheld), or approximately 53% of AIF's common shares outstanding, voted in favor of the proposal, satisfying AIF's stockholder approval requirement.
NEW YORK, June 11, 2024 (GLOBE NEWSWIRE) -- (NYSE: AFT) - Apollo Senior Floating Rate Fund Inc. (the “Fund”) today announced the declaration of its distribution for the month of June 2024 of $0.140 per common share, payable on the date noted below.
Stockholders of AFT and AIF Who Have Voted Thus Far Have Strongly Supported the Merger Proposals Both Leading Independent Proxy Advisors, Institutional Shareholder Services (“ISS”) and Glass Lewis & CO (“Glass Lewis”), Recommend AFT and AIF Stockholders Vote “FOR” the Merger Proposals NEW YORK, May 28, 2024 (GLOBE NEWSWIRE) -- MidCap Financial Investment Corporation (NASDAQ: MFIC) today announced that it has received stockholder approval of the proposal related to the previously announced proposed mergers with Apollo Senior Floating Rate Fund Inc. (NYSE: AFT) and Apollo Tactical Income Fund Inc. (NYSE: AIF). AFT announced today the adjournment of its Special Meeting of Stockholders (the “AFT Special Meeting”), convened on May 28, 2024, to provide stockholders with additional time to vote on the proposed merger of AFT with and into MFIC (the “AFT Merger Proposal”).
The Dynamic Income Opportunities Fund (NYSE: PDO) increased by 14.21% to $178.25, while Apollo Senior Floating Rate Fund Inc. saw a slight decrease to $177.63.
We review CEF market valuation and performance through the third week of March and highlight recent market action. Most CEF sectors saw lower NAVs due to the drop in stocks and Treasuries, but discounts tightened in all but 3 sectors. Saba is in a fight with ASA Gold & Precious Metals CEF, which has adopted a rights offering to dilute Saba.
We review CEF market valuation and performance through the first week of March and highlight recent market action. CEFs were mostly up on the week, driven by a decent PCE report. CEF investors have to contend with different levels of fund-level reporting, with semi-annual reports being particularly unhelpful.
FRA: Still A Good Way To Earn An Attractive 11% Yield Today (Rating Upgrade)
NHS: This Fund Is Looking Very Expensive Given Current Fundamentals (Rating Downgrade)
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What type of business is Apollo Senior Floating Rate Fund?
Apollo Senior Floating Rate Fund Inc. is a closed ended fixed income mutual fund launched and managed by Apollo Credit Management, LLC. The Fund invests in fixed income markets. It primarily invests in senior secured loans made to companies whose debt is rated below investment grade. The Fund employs a conservative approach to credit selection that focuses on collateral coverage, structural seniority, and credit fundamentals, with emphasis on leading defensible market positions, stable companies with positive cash flow, and proven management teams. It benchmarks the performance of its portfolios against the S&P/LSTA Leveraged Loan Index. Apollo Senior Floating Rate Fund Inc. was formed on February 23, 2011 and is domiciled in United States.
What sector is Apollo Senior Floating Rate Fund in?
Apollo Senior Floating Rate Fund is in the Financial Services sector
What industry is Apollo Senior Floating Rate Fund in?
Apollo Senior Floating Rate Fund is in the Asset Management industry
What country is Apollo Senior Floating Rate Fund from?
Apollo Senior Floating Rate Fund is headquartered in United States
When did Apollo Senior Floating Rate Fund go public?
Apollo Senior Floating Rate Fund initial public offering (IPO) was on 25 February 2011
What is Apollo Senior Floating Rate Fund website?
https://www.agmfunds.com/InvestmentInformation/SeniorFloatingRateFund.aspx
Is Apollo Senior Floating Rate Fund in the S&P 500?
No, Apollo Senior Floating Rate Fund is not included in the S&P 500 index
Is Apollo Senior Floating Rate Fund in the NASDAQ 100?
No, Apollo Senior Floating Rate Fund is not included in the NASDAQ 100 index
Is Apollo Senior Floating Rate Fund in the Dow Jones?
No, Apollo Senior Floating Rate Fund is not included in the Dow Jones index
When does Apollo Senior Floating Rate Fund report earnings?
Next earnings report date is not announced yet