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PIMCO Municipal Income Fund III of Beneficial Interest
With the release of June PIMCO coverage figures we take a look at recent trends. Over the month municipal CEFs have increased 6-month rolling distribution coverage by 3%, rising to 95% on average. Sharp falls in leverage costs to rockbottom levels have supported municipal fund earnings. Taxable funds, on the other hand, saw coverage fall by 6% to an average of 77%. However, unlike municipal funds which moved in sync, taxable funds saw significant divergence.
Within the PIMCO space, we continue to like the following two funds: