PTY - PTY: 10% Yielding CEF That Needs To Be In Your Portfolio
2025-05-11 09:15:00 ET
Summary
- PTY did not respond to the initial tariff-shock well. It declined by ~12%.
- Yet, the Fund has largely recovered, in line with the high-yield credit spreads. Importantly, the distributions have remained stable.
- Currently, PTY operates with ultra-conservative leverage.
- Even with so much defensive leverage, the distributions are well-covered.
- In this article, I discuss in more details why I have become bullish on PTY.
PIMCO Corporate and Income Opportunity Fund (NYSE: PTY ) is a closed end fund that is managed by PIMCO. The primary focus of PTY is delivering high and stable current income streams, while preserving the value of the principal....
PTY: 10% Yielding CEF That Needs To Be In Your Portfolio