PDI - PDI: The Risk Is Still There Has Even Increased Further
2024-06-30 10:30:47 ET
Summary
- Early this year, I issued a relatively bearish article on PDI.
- Since then, PDI has registered positive total returns, but underperformed most of its peers and the S&P 500.
- In this article, I review my thesis by assessing the recent market and PDI dynamics that are important in the context of PDI return prospects.
In January this year, I wrote a bearish article on PIMCO Dynamic Income Fund ( PDI ), making the case of a subpar performance for this CEF going forward. My conservative stance was predicated on higher for longer scenario, which would introduce a painful bleed for PDI in terms of its NAV destruction and selling underlying stakes in a wrong moment just to keep the distribution levels unchanged....
PDI: The Risk Is Still There, Has Even Increased Further