PAXS - PTY: PIMCO's Flagship CEF Is Still Worth Buying
2024-06-21 06:27:18 ET
Summary
- PTY is a high yielding closed end fund managed by PIMCO, outperforming other funds in the lineup over the past twelve months.
- PIMCO is a powerful asset manager with $1.8 trillion AUM, nearly 85% of which has outperformed its benchmark, net of feed.
- The fund has reduced leverage and continues to trade at a premium to net asset value of over 25%.
Today, we're going to circle back on one of the top high yielding closed end funds. Managed by PIMCO, the PIMCO Corporate & Income Opportunity Fund ( PTY ) is a flagship CEF which has delivered monthly dividends for more than two decades. To put it simply, PTY is legendary and deserves the credit for outperforming nearly every competitor over the span of decades. In fact, PTY has outperformed the S&P 500 since inception, displaying the exceptional total returns of the fund despite rising interest rates over the past two years.
PIMCO is a massive Newport Beach-based asset manager focusing on fixed income. Over the years, PIMCO has become one of the most powerful and connected fixed income managers. The platform has grown beyond mutual funds, and today PIMCO is one of the largest managers in the world....
PTY: PIMCO's Flagship CEF Is Still Worth Buying