PGP - PGP: Premium Comes Down Making It A More Interesting Idea
2024-06-20 09:22:26 ET
Summary
- PIMCO Global StocksPLUS & Income Fund (PGP) has performed well since our last update but underperformed GLO in this period.
- PGP utilizes a multi-sector fixed-income fund approach and then takes it a step further with derivatives for equity exposure.
- PGP offers an attractive distribution rate paid monthly, with distribution coverage improving in the latest report.
Written by Nick Ackerman, co-produced by Stanford Chemist.
In our prior coverage of PIMCO Global StocksPLUS & Income Fund ( PGP ), we compared the fund against Clough Global Opportunities ( GLO ). I noted that PGP was looking like a better bet earlier in 2022, but in our prior update in early 2023, that swap played out. I also believed that GLO looked like a better opportunity at the time....
PGP: Premium Comes Down, Making It A More Interesting Idea