PCI - PIMCO Income Opportunity Fund Distributes 9.04% And Charges A Modest Management Fee
In a series on closed-end bond funds, I look at the PIMCO Income Opportunity Fund, Inc. (PKO). PKO is a closed-end fund looking to deliver high total returns primarily through income and then some through capital appreciation. The fund charges a 2.94% but it is only 1.65% after deducting interest expenses. It employs a 35% leverage ratio. The trailing twelve-month yield is about 9.04%. Just like peers, it recently fell off a cliff but unlike its peers it is trading at a 3% premium to NAV:
PKO data by YChartsThe fund's mandate