PTY - PTY: Strong Gains Despite Worsening Prospects Time To Rotate Out
2024-04-07 07:50:26 ET
Summary
- PIMCO Corporate and Income Opportunity Fund has seen a 17.5% total return on a YTD basis, which goes hand in hand with my thesis back in late 2023.
- However, considering the underlying fundamentals and the overall interest rate outlook, there is a strong basis for exiting PTY despite the significant gains so far.
- In this article, I elaborate on the key aspects, which, in my opinion, justify the thesis of deemphasizing PTY.
Right at the end of 2023, I wrote an article about PIMCO Corporate and Income Opportunity Fund ( PTY ), which is a fixed income biased CEF managed by PIMCO....
PTY: Strong Gains Despite Worsening Prospects, Time To Rotate Out