PDI - PCI: 8% Yield CEF A 'Must Own' In Your Core High-Yield Portfolio
In March, we wrote an article about PIMCO Dynamic Credit and Mortgage Income Fund (PCI) suggesting that it was still a bargain despite starting to trade at a premium to NAV.
In the comment section, we received feedback from some readers about how one should "never buy a CEF at a premium".
Over the past 8-months, our investment has returned a total of 13% edging out SPY. More importantly, approximately half of that total return came to us as cold hard cash from dividends.
Our primary goal with a CEF like PCI is