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ECC - YH CEF Report September | Some Surprise Cuts
Eagle Point Credit Company Inc.
(This report was issued to members of Yield Hunting on September 3rd)
Closed-End Fund Analysis
The CEF space ended the month with a -4.95% average discount across all funds and all categories. That compares to a -5.10% at the end of July. However, during that time, we did see discounts tighten briefly to 3-year lows with the average taxable bond CEF reaching a -2.0% discount. That is the tightest we have seen since mid-2016.
The average distribution yield across all CEFs is 6.97% from 6.80% at the end of July. One-year z-scores are