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home / news releases / AVGOP - NCV: Discount Narrows And Distribution Coverage Slips

AVGOP - NCV: Discount Narrows And Distribution Coverage Slips

Broadcom Inc. 8.00% Mandatory Convertible Preferred Stock Series A
  • NCV was trading at a deeper discount earlier this year when we originally touched on this fund.
  • The fund has a history of trading at premiums, but the latest reduction in the discount takes away some of the downside safety net.
  • Delivering an ~8% distribution yield to investors means some appeal, but coverage has also slipped again.
  • With the combination of discount narrowing and distribution coverage slipping, I would continue to remain cautious here.

For further details see:

NCV: Discount Narrows And Distribution Coverage Slips
Stock Information
Company Name: Broadcom Inc. 8.00% Mandatory Convertible Preferred Stock Series A
Stock Symbol: AVGOP
Market: OTC
Website: broadcom.com
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