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PCK - PCK: California Muni Bonds Remain Attractive At The Right Price
Pimco California Municipal Income Fund II of Beneficial Interest
Main Thesis
The purpose of this article is to evaluate the PIMCO California Municipal Income Fund II (PCK) as an investment option at its current market price. PCK has performed well in 2019, and I see reasons to remain optimistic in 2020. While muni bonds are getting increasingly expensive, PCK's premium has indeed risen. While this should give investors some pause, it is worth noting that PCK is the cheapest California muni bond fund from PIMCO, so it has some relative value. Further, the fund has seen strong underlying gains in 2019, which gives me