NCZ News and Press, AllianzGI Convertible & Income Fund II of Beneficial Interest From 06/27/21

We review CEF market valuation and performance over the past week and highlight recent events. We highlight news and market action across a number of CEFs such as HFRO, FSLF, IGI, and a pair of Invesco loan funds. Valuation and distribution challenges remain two key risks for CEF ...

Virtus AllianzGI Convertible & Income Fund II of Beneficial Interest (NYSE:NCZ) traded today at a new 52-week high of $5.34. Approximately 472,000 shares have changed hands today, as compared to an average 30-day volume of 637,000 shares. AllianzGI Convertible & Income Fund II is...

For income investors, closed-end funds remain an attractive investment class that covers a variety of asset classes and promise high distributions and reasonable total returns. The closed-end funds are generally characterized by higher volatility and deeper drawdowns than the broad ma...

Stocks eked out some small gains this week bringing the S&P 500 within a half a percent of the all-time high hit on May 7th. Discounts climbed back to their tightest levels of the last 8 years with munis starting to catch up to taxables. The spreads between the two are down to 1.4...

With valuations tightening and a number of risks on the radar, it makes sense to take a margin-of-safety approach to income portfolios. A number of CEF strategies can provide additional margin-of-safety without necessarily reducing income. We discuss three additional CEF strategie...

The CEF market recovered almost entirely from a recent bump in the road due to inflation worries. We review CEF market valuation and performance over the past week and highlight recent events. We continue to favor the few remaining pockets of value in the space across a few higher...

In the first quarter, closed-end fund discounts tightened by 261 bps from -6.3% to -3.7%. But in the month of April, we saw another 80 bps of closure. We think the muni CEF space looks relatively attractive compared to the taxable bond CEF categories. As such, we've been trimming ...

For income investors, closed-end funds remain an attractive investment class that covers a variety of asset classes and promise high distributions and reasonable total returns. The market downturn last year exposed the risk of high volatility and deep drawdowns with investing in close...

NCZ pays a distribution of 3.75 cents a month (for an 8.75% yield). Attractive if it can support it. NAV performance over the last 3 years has been good, but not so good over the last 10. The distribution has been well supported, but that is with distribution cuts. With new ma...

As Q1 comes to an end, we take a look at the performance of the CEF market year-to-date. We also take a look at the key drivers of CEF discounts going forward. And focus, in particular, on how CEF performance is likely to pan out relative to open-end funds in the current environme...