PCK News and Press, Pimco California Municipal Income Fund II of Beneficial Interest From 11/01/22

NEW YORK, Nov. 01, 2022 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund’s common shares as summarized below. The dis...

PCK trades at a nice discount to NAV and the fund is markedly cheaper than its sister funds from PIMCO. California munis seem well supported at these levels. Tax revenues are up and state finances suggest defaults and delinquencies will be minimal. However, the recent turmoil with...

A sharp sell-off to start the year has pushed down municipal bond valuations and muni closed-end funds to discounts, presenting an attractive entry point for investors seeking tax-exempt income. Muni CEFs borrow money at short-term interest rates and invest the proceeds in muni bonds ...

For the second month in three, equity CEFs on average witnessed positive returns, rising 0.73% on a NAV basis for May. While for the fifth consecutive month, fixed income CEFs posted returns in the red (-0.40%). Only 20% of all CEFs traded at a premium to their NAV at month end, w...

For the second month in three, equity CEFs on average witnessed negative returns, falling 2.61% on a NAV basis for November. While for the first month, three fixed income CEFs posted returns in the black (+0.12%). Thirty-six percent of all CEFs traded at a premium to their NAV, wi...

Interest rate volatility prompted another month of negative total returns. Below-average issuance was counterbalanced by a slowdown in demand. November could provide opportunities ahead of seasonal strength in December and January. For further details see: Muni Seasonal ...

Steadily lower yields and heightened volatility make relative value opportunities an attractive alpha generation strategy in CEFs. We review past relative value ideas and identify new ones across CEF sectors. Specifically, we highlight rotation opportunities for a number of PIMCO,...

Rising interest rates drove negative total returns. Supply and demand dynamics turned less seasonally favorable and acted as a headwind. More attractive valuations could provide near-term opportunity. For further details see: Munis Remained Tethered To Rates In September...

Interest in municipal closed-end funds (CEFs) vs. municipal bonds often stems from higher return potential - this is mostly due to the use of leverage in municipal closed-end funds. Leverage could potentially amplify both the fund's net asset value (NAV) and its distribution; however,...

Modestly negative performance in August capped a robust summer seasonal period. Issuance exceeded expectations, resulting in less of a supply/demand imbalance than is typical. We maintain a defensive posture into the historically less favorable month of September. For furthe...