PHK - PHK: Some Positive Attributes If You Are Willing To Pay A Premium
- PHK has been a relatively weak performer over the longer term, so readers were right to approach this fund cautiously.
- After a recent sell-off, there is certainly a buy case to be made, although I would reiterate this is not a CEF for the risk averse.
- Income metrics are not very strong, and a premium price is still present.
- Yet, the premium is lower than it has been in the past. Also, the duration is reasonable, driven by below investment grade holdings. With yields likely to go up in 2022, this managed duration approach is attractive.
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PHK: Some Positive Attributes, If You Are Willing To Pay A Premium