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PHK - PHK: Buying After Distribution Cuts Is Risky
Pimco High Income Fund
Main Thesis
The purpose of this article is to evaluate the PIMCO High Income Fund (PHK) as an investment option at its current market price. While I have knocked PHK for some time, over the past trading year, it has defied my expectations. The fund had been trending higher while delivering an income stream well above what alternative funds were offering. That said, my hesitation to recommend the fund remained because I viewed it as a risky proposition. The cost to own it kept increasing, while its ability to deliver the high income