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IHIT - IHIT: Some Good News From The Latest Report
Invesco High Income 2023 Target Term Fund of Beneficial Interest
We refresh our look at IHIT - a mostly investment-grade CMBS CEF - based on the recently issued shareholder report.
The fund has pleasantly surprised with relatively steady income by keeping its borrowings unchanged and partially taking advantage of lower short-term rates.
Excluding swap cash flows, the fund was able to cover its distributions over the six-month period ending August.
The fund's discount valuation and term structure provide an attractive combination of discount control and performance tailwind.
We continue to maintain IHIT across two of our Income Portfolios.