PFL - PFL: After A Big Run I'd Be More Cautious Here (Rating Downgrade)
2024-03-21 08:47:27 ET
Summary
- The article evaluates the PIMCO Income Strategy Fund as an investment option at its current market price.
- This fund has performed extremely well since my buy rating, but I believe a more moderate stance is the right call going in to Q2.
- I see challenges for high yield credit and non-US debt. PFL is overweight both.
Main Thesis & Background
The purpose of this article is to evaluate the PIMCO Income Strategy Fund ( PFL ) as an investment option at its current market price. PFL is a closed-end fund whose investment objective is to "seek high current income, consistent with the preservation of capital"....
PFL: After A Big Run, I'd Be More Cautious Here (Rating Downgrade)