PIMCO CEF Distribution Coverage Theories
The human mind craves explanations. The income investor’s mind craves an explanation for the crazy trend of taxable PIMCO CEF distribution coverage. One theory has it that the poor PCI …
What’s the Deal With Equity CEF Discounts?
We like to track both top-down and bottom-up CEF metrics to find both major trends as well as individual opportunities across the market. In particular, we like looking at sector …
The Meaning of the PGP Discount
PIMCO CEFs remain popular income investment vehicles due to their generous distribution rates and strong historic total returns. Recently, the PIMCO Global StocksPLUS & Income Fund has begun to trade …
Cage Match: Short-Duration HY Muni vs HY Corps
If I asked you which fixed-income sector would show stronger returns over the last 8 years: short-duration HY munis or HY corporate debt, what would you say? I can tell …
Resilient CEFs Through October
The market has behaved with a lot of anxiety through October with the SPX selling off sharply a number of different days. One way we gauge CEF resilience is simply …
Back to Normality For PIMCO CEF Coverage?
PIMCO have released their September earnings and if we dis-aggregate the NII for September relative to the distributions of the individual funds it looks pretty good! All funds earned more …
OPPRP – New OPP Preferred
The new OPP preferred started trading the other day – 4.375% 2025 callable $25-par issued by OPP – a multi-sector fixed-income CEF. We just added this stock to the Preferreds …
CEFConnect Just Broke
I love to point our problems with CEFConnect. Don’t get me wrong – CEFConnect is a great resource! Being able to quickly pull up historic returns, distribution history or discounts …
It’s CEF Specials Time
It’s that time of the year again when CEFs investors gear up for special distributions as a result of realized capital gains or any additional investment income in excess of paid distributions. …
No Love For FGB?
The First Trust Specialty Finance and Financial Opportunities Fund (FGB) is a CEF of BDCs. The fund has rallied hugely over the last few sessions, its discount tightening from 21% …