HYG - CHI: Convertible And Income Fund Providing Steady Monthly Distributions
2024-02-06 20:55:30 ET
Summary
- Calamos Convertible Opportunities and Income Fund has provided solid long-term results and provides convertible and high-yield exposure.
- The fund has also delivered a steady monthly distribution to its investors, though it remains significantly reliant on capital gains.
- While the fund's premium has come down some since our last update, it is still trading at a premium that could be considered around fair value.
Written by Nick Ackerman, co-produced by Stanford Chemist.
The last time we covered the Calamos Convertible Opportunities and Income Fund ( CHI ), the premium to the net asset value gave us pause. Today, the premium is a bit lower, but it still also isn't looking like a steal either - keeping it at about fair value. However, we still have a new annual report to look at for fiscal 2023 to see how the fund was doing. Additionally, we can also look to see what we might be able to expect going forward for those investors who continue to remain invested in this fund.
CHI Basics
- 1-Year Z-score: -0.03
- Premium: 7.91%
- Distribution Yield: 10.58%
- Expense Ratio: 1.38%
- Leverage: 37.15%
- Managed Assets: $1.204 billion
- Structure: Perpetual