NAD - CEF Weekly Review: Invesco Succumbs To Peer Pressure
2024-02-11 11:40:24 ET
Summary
- We review CEF market valuation and performance through the first week of February and highlight recent market action.
- All but one sector rallied this week despite Powell taking away the March cut punchbowl.
- Invesco hiked the dividends of its Muni CEFs by 10-23%, following the lead of Nuveen and BlackRock.
- PDX is struggling to convert to a more traditional income fund due to its oversized Venture Global holding.
Welcome to another installment of our CEF Market Weekly Review, where we discuss closed-end fund ("CEF") market activity from both the bottom-up - highlighting individual fund news and events - as well as the top-down - providing an overview of the broader market. We also try to provide some historical context as well as the relevant themes that look to be driving markets or that investors ought to be mindful of....
CEF Weekly Review: Invesco Succumbs To Peer Pressure