GOF - GOF: Why I'm Still Passing On The 16.17% Yield

2024-02-01 08:23:23 ET

Summary

• The Guggenheim Strategic Opportunities Fund trades at a 10% premium over its net asset value and has a current distribution rate of 16.17%.
• The fund typically trades at a premium, but its premium has decreased recently, coinciding with a sizeable drawdown in fixed income.
• The fund's portfolio consists mostly of corporate exposures and has a healthy allocation to bank loans, but it is fading government exposure.

The Guggenheim Strategic Opportunities Fund (GOF), a $2 billion under-management, closed-end fixed-income fund, trades at approximately a 10% premium over its net asset value or NAV. Guggenheim Partners Asset Management Inc, of the late Scott Minerd, manages it. It has a current distribution rate of no less than 16.17%....

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