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PCQ - PCQ: Reiterating Neutral Position Ahead Of 2020
PIMCO California Municipal Income Fund
Main Thesis
The purpose of this article is to evaluate the PIMCO California Municipal Income Fund (PCQ) as an investment option at its current market price. While I had been recommending PCQ for the first half of 2019, I moved to a neutral rating on the fund in July, primarily due to the fund's valuation. This time around, I have similar concerns, as PCQ remains on the top of the pack when it comes to premiums in the PIMCO family. Furthermore, while I believe PCQ's distribution is safe, the fund continues to draw