SCHEDULE 13D/A
DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
7/26/16
1. NAME OF REPORTING PERSON
Bulldog Investors, LLC
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DE
___________________________________________________________
7. SOLE VOTING POWER
745,423
8. SHARED VOTING POWER
637,199
9. SOLE DISPOSITIVE POWER
745,423
_______________________________________________________
10. SHARED DISPOSITIVE POWER
637,199
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,382,622 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
10.64%
14. TYPE OF REPORTING PERSON
IA
___________________________________________________________
1. NAME OF REPORTING PERSON
Bulldog Investors Group of Funds
2. CHECK THE BOX IF MEMBER OF A GROUP a[x]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DE
___________________________________________________________
7. SOLE VOTING POWER
745,423
8. SHARED VOTING POWER
0
9. SOLE DISPOSITIVE POWER
745,423
_______________________________________________________
10. SHARED DISPOSITIVE POWER
0
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
745,423 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
5.74%
14. TYPE OF REPORTING PERSON
IC
___________________________________________________________
1. NAME OF REPORTING PERSON
Phillip Goldstein
2. CHECK THE BOX IF MEMBER OF A GROUP a[x]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
7. SOLE VOTING POWER
745,423
8. SHARED VOTING POWER
637,199
9. SOLE DISPOSITIVE POWER
745,423
_______________________________________________________
10. SHARED DISPOSITIVE POWER
637,199
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,382,622 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
10.64%
___________________________________________________________
14. TYPE OF REPORTING PERSON
IN
___________________________________________________________
1. NAME OF REPORTING PERSON
Andrew Dakos
2. CHECK THE BOX IF MEMBER OF A GROUP a[]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
745,423
8. SHARED VOTING POWER
637,199
9. SOLE DISPOSITIVE POWER
745,423
_______________________________________________________
10. SHARED DISPOSITIVE POWER
637,199
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,382,622 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
10.64%
14. TYPE OF REPORTING PERSON
IN
___________________________________________________________
1. NAME OF REPORTING PERSON
Steven Samuels
2. CHECK THE BOX IF MEMBER OF A GROUP a[]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
745,423
8. SHARED VOTING POWER
637,199
9. SOLE DISPOSITIVE POWER
745,423
_______________________________________________________
10. SHARED DISPOSITIVE POWER
637,199
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,382,622 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
10.64%
14. TYPE OF REPORTING PERSON
IN
_______________________________________________________
Item 1. SECURITY AND ISSUER
This statement constitutes Amendment #1 to the schedule 13D
filed June 8, 2016. Except as specifically set forth
herein, the Schedule 13D remains unmodified.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As per the N-CSR filed on March 4, 2016, there were 12,996,610 shares
of common stock outstanding as of December 31, 2015. The percentages set forth
herein were derived using such number. Phillip Goldstein, Andrew Dakos and
Steven Samuels own Bulldog Investors, LLC, a registered investment advisor.
As of July 26, 2016, Bulldog Investors, LLC is deemed to be the beneficial
owner of 1,382,622 shares of PHF (representing 10.64% of PHF's outstanding
shares) solely by virtue of Bulldog Investors LLC's power to direct the vote
of,and dispose of, these shares. These 1,382,622 shares of PHF include 745,423
shares (representing 5.74% of PHF's outstanding shares) that are beneficially
owned by Mr. Goldstein and the following entities over which Messrs. Goldstein,
Dakos and Samuels exercise control: Opportunity Partners LP, Calapasas West
Partners LP, Full Value Special Situations Fund, LP, Full Value Offshore Fund,
Ltd., Opportunity Income Plus, Full Value Partners, LP, and MCM Opportunity
Partners, LP (collectively, "Bulldog Investors Group of Funds"). Mr. Goldstein
and the Bulldog Investors Group of Funds may be deemed to constitute a group.
All other shares included in the aforementioned 1,382,622 shares of PHF
beneficially owned by Bulldog Investors LLC (solely by virtue of its power to
sell or direct the vote of these shares) are also beneficially owned by clients
of Bulldog Investors, LLC who are not members of any group. The total number of
these "non-group" shares is 637,199 shares (representing 4.90% of PHF's
outstanding shares).
(b)Bulldog Investors,LLC has sole power to dispose of and vote 745,423 shares.
Bulldog Investors, LLC has shared power to dispose of and vote 637,199 shares.
Certain of Bulldog Investors, LLC's clients (none of whom beneficially own more
than 5% of PHF's shares) share this power with Bulldog Investors, LLC. Messrs.
Goldstein, Dakos and Samuels are control persons of Bulldog Investors, LLC.
c) During the past 60 days the following shares of PHF were sold:
Date: Shares: Price:
06/20/16 (5,100) 7.2110
06/21/16 (3,710) 7.1609
06/21/16 (16,730) 7.1577
06/22/16 (5,301) 7.1800
06/22/16 (9,300) 7.1697
06/23/16 (3,500) 7.1757
06/24/16 (100) 7.1100
06/29/16 (409) 7.1349
06/30/16 (700) 7.1400
07/01/16 (300) 7.1500
07/05/16 (2,218) 7.0809
07/07/16 (17,600) 7.1500
07/08/16 (11,824) 7.1800
07/11/16 (5,934) 7.2093
07/18/16 (4,100) 7.2200
07/19/16 (6,600) 7.2302
07/20/16 (900) 7.2500
07/21/16 (4,300) 7.2800
07/22/16 (12,110) 7.2800
07/25/16 (13,617) 7.2002
07/26/16 (10,217) 7.2000
d) Clients of Bulldog Investors, LLC are entitled to receive any dividends or
sales proceeds.
e) N/A
ITEM 6. CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
N/A
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: 7/27/16
By: /S/ Phillip Goldstein
Name: Phillip Goldstein
By: /S/ Andrew Dakos
Name: Andrew Dakos
By: /S/ Steven Samuels
Name: Steven Samuels
Bulldog Investors, LLC
By: /s/ Andrew Dakos
Andrew Dakos, Member
Footnote 1: The reporting persons disclaim beneficial ownership except
to the extent of any pecuniary interest therein.