BFZ - December CEF Distributions Widespread Across Sponsors - DBL Cuts Big
In the December distribution announcements, we had 27 funds decrease their distributions and 7 increase them. Of the 27 that cut, the largest was the DoubleLine Opportunistic Credit (DBL) which chopped the distribution by a massive 34%. We will discuss this cut more in detail in a bit. Of the cutters, 15 were muni funds, and 8 were the MFS funds which have variable distribution policies.
The announcements compare to November which had only eight distribution decreases and seven increases. The announcements this month were widespread across the fund sponsors, though PIMCO was