I have held a small position in HRZN since forever and was sniffing around today with the mini pullback here but I came to my senses and stopped. They are still below scale if you look at the percentage of gross interest income they spend on expenses.
That said, I suspect the mini pullback is mostly due to Russell selling or shorting ahead of the anticipation.
I am planning to buy back my common shares, although I am overweight already in the baby bonds collecting a sweet 7.7% and rolling down the curve.
At a 21% discount to NAV, given that they are executing decently, it is the least overvalued of the BDCs although obviously SAR is not suitable for a huge investment. I think they will initiate a dividend at around 40 cents per quarter later this year.