PCM News and Press, PCM Fund Inc. From 07/03/23

NEW YORK, July 03, 2023 (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 distribut...

2023-04-30 01:44:27 ET Summary Discounts/premiums are one of the most important metrics for CEFs that can provide opportunities for investors. Closed-end funds often see expanded discounts during volatile years, which we experienced in 2022. Volatility has been coming down in ...

2023-04-27 09:18:37 ET Summary We provide a March update for the PIMCO CEF taxable suite. Taxable coverage continued to tick lower while Muni coverage remained fairly stable. Taxable borrowings increased for only the second time over the past year, as PIMCO likely took advanta...

2023-04-26 13:55:48 ET Summary We tend to avoid funds when they trade at significantly outsized premiums. PCM is pushing near all-time high premiums in an area of the market that is susceptible to performing poorly in a bad economy. Due to an excessive premium, the distributio...

2023-04-12 05:20:27 ET Summary Recent market volatility has opened up valuation divergences between very similar CEFs, creating opportunities for switches or outright holds. This offers income investors an opportunity to pick up additional yield, adopt a more defensive stance, and...

2023-04-04 12:41:57 ET Summary We provide a February update for the PIMCO CEF taxable suite. Taxable CEFs continued to deleverage despite NAVs largely holding steady through February, possibly as a result of a low level of net income generated by leveraged assets. Six-month ro...

2023-03-27 06:06:08 ET Summary DMO is invested in mortgages, both residential and commercial MBS, as well as other mortgage-related debt securities. With all the uncertainty, a wider discount could be appropriate as credit risks become a real issue. At the same time, we are no...

Summary 17 out of 22 CEF sectors positive on price and 18 out of 22 sectors positive on NAV last week. RSF offering results. DEX tender offer expires. A new corporate actions tracker for our members. Author’s note: This article was released to CEF/ETF Income Labor...

Summary We provide a December update for the PIMCO CEF taxable suite. Most funds deleveraged further while PDO added borrowings. Coverage continued to drop across all funds except PGP with only two funds now having coverage over 100%. We discuss the recent shift in the swaps por...

Summary 21 out of 22 CEF sectors were positive on price and 20 out of 22 sectors were positive on NAV last week. MLPs are the most discounted CEF sector. Real estate and senior loans are the highest-yielding CEF sector. Author's note: This article was released to CEF/ETF...