HYT - HYT: Wait For A Wider Discount To NAV Before Buying
2024-01-29 06:34:46 ET
Summary
- Many CEFs are currently trading at historically wide discounts to NAV but HYT is not.
- The BlackRock Corporate High Yield Fund is currently trading at a 1.3% discount to NAV, lower than its historical average of ~7.7%.
- HYT has a strong history of delivering solid results for shareholders on both an absolute and risk-adjusted basis.
- The fund has historically repurchased shares at an average discount to NAV of 11.8%.
- I rate the fund a hold but would consider upgrading the fund if the discount to NAV widens.
Price relative to NAV is a key consideration for any investor considering a closed-end fund ("CEF") investment. Currently, many CEFs are trading at historically wide discounts to NAV....
HYT: Wait For A Wider Discount To NAV Before Buying