BRW - JQC: This Debt Fund Should Satisfy Most Income Seekers Today
2024-05-03 15:34:13 ET
Summary
- Nuveen Credit Strategies Income Fund offers a high yield of 11.61%, outperforming the market indices.
- The JQC closed-end fund's high allocation to floating-rate securities is favorable in the current interest rate environment.
- The fund's leverage is higher than its peers, which increases risk but also potential returns.
- The fund appears to be fully covering its distribution and should not need to reduce the payout.
- The shares are currently trading at an attractive discount to net asset value.
The Nuveen Credit Strategies Income Fund ( JQC ) is a closed-end fund, or CEF, that income-focused investors can employ as a method of achieving their goals. The fund certainly manages to accomplish this task quite well right now, as its 11.61% yield is quite a bit higher than many of its peers. We can see this here:
| Fund Name |
| Morningstar Classification |
| Current Yield |
| Nuveen Credit Strategies Income Fund |
| Fixed Income-Taxable-Senior Loans |
| 11.61% |
| Ares Dynamic Credit Allocation Fund ( ARDC ) |
| Fixed Income-Taxable-Senior Loans |
| 10.04% |
| BlackRock Debt Strategies Fund ( DSU ) |
| Fixed Income-Taxable-Senior Loans |
| 10.94% |
| Carlyle Credit Income Fund ( CCIF ) |
| Fixed Income-Taxable-Senior Loans |
| 15.86% |
| Saba Capital Income & Opportunities Fund ( BRW ) |
| Fixed Income-Taxable-Senior Loans |
| 13.99% |
| abrdn Income Credit Strategies Fund ( ACP ) |
| Fixed Income-Taxable-Senior Loans |
| 18.38% |