PCN News and Press, Pimco Corporate & Income Strategy Fund From 03/07/22

Nobody begins an investment career with a fully-formed philosophy; it’s an achievement you can only realize after being exposed to life’s lessons. Twelve years ago, while “playing in the stock market,” I found myself overbalanced on natural gas but was save...

Return of capital is often misunderstood as always being a bad thing when showing up in the tax character of distribution. However, there is a significant benefit to return of capital for those held in a taxable account as a way to defer tax obligations. These can be deferred pote...

PDO launched early in 2021; since then, the fund's performance has been weak, as one would expect with rising rates. While rising rates will continue to pressure this debt-focused fund, the valuation has become quite tempting relative to other PIMCO names. The fund also paid a spe...

Credit plays have been punished in 2022 so far. This could open up some buying opportunities, especially for those with a more long-term view. PCN is notorious for trading at a high premium to NAV. At the present moment, the 10% premium level seems reasonable. Yet, I would caution...

An American expert on horse race betting, Andrew Beyer, defined the psychological aspects related to the behavior of gamblers in two categories: “prime bets” and “action bets”. CEFs composing my Cupolone Income Portfolio are “prime bets;” they...

PCN is a closed end fund managed by PIMCO that utilizes a diversified fixed income portfolio to drive income and total return. The fund is one of PIMCO’s oldest continuously operating CEFs, outperforming its peer group and the broader fixed income market substantially. Othe...

NAV performance, discount on NAV, and leverage constitute the three main parameters of my rule of thumb to select funds for a long-term CEF portfolio. I’m contemplating adding a fourth metric, Total Return, which is calculated based on the amount of distributions plus the chang...

As a tool to evaluate candidates for a long-term CEF portfolio, I formulated a simple “rule of thumb” based on the interactions among NAV performance, discount/premium on NAV, and leverage. For a safe CEF investment, this rule of thumb suggests first choosing CEFs with a...

There were a total of 7 closed-end funds that have never cut their distributions with inceptions before 2008/09's GFC. We will see the loss of one of those names with PKO set to merge with PDI. Another position on this list, GOF, is going through a bit of a transformation but hasn...

PTY is a closed end fund managed by PIMCO that utilizes a diversified portfolio to drive current income and total return. The fund is one of PIMCO’s flagship CEFs, outperforming its peers and even the S&P 500. A recent distribution cut combined with an extreme premium t...