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PKO - PKO Offers A Better Value Than Its Direct Peers From PIMCO
Pimco Income Opportunity Fund of Beneficial Interest
With difficult economic conditions likely to linger, buying in to leveraged high-yield CEFs is not for the risk-averse. However, for those who can withstand some volatility, PKO is a reasonable option.
The fund does sport a premium price, but it is at a modest level historically. Further, it is lower than other CEFs from PIMCO that have similar holdings.
Income metrics are weak, and a distribution cut is a risk. Yet, there are signs of stability in the high yield sector, and PKO's yield will remain competitive even with a cut.