PFL News and Press, PIMCO Income Strategy Fund Shares of Beneficial Interest From 07/11/20

Co-produced with Beyond Saving The unknown creates both risk and opportunity for investors. It's the unpleasant surprises that can lead to losses, while at the same time, the fear of the unknown frequently causes investments to be priced lower than the actual risk calls for. We've all ...

Market Performance Stocks had two very different quarters to start 2020 with the S&P 500 index ETF ( SPY ) return including dividends of -19.5% in 1Q and 20.1% in 2Q for an overall 1H return of -3.3%. High-quality bonds as measured by the iShares Core Aggregate Bond ETF ( AGG ) continued...

The last few months have seen big shifts in key drivers of CEF earnings such as short-term rates and leverage levels. In this article we take a look at one small but important part of the CEF market - auction-rate preferred securities or ARPS. These instruments have historically been used by C...

(This report was issued to members of Yield Hunting on May 26th.) Branding matters. Think of this. In the 1980s, PepsiCo ( PEP ) began running commercials with The Pepsi Challenge, where people would try two colas as a taste test and select which they liked better. Not surprisingly, Pepsi ...

Over the last few months we have tracked the leverage shifts across the PIMCO municipal and taxable CEFs. The key reason for this is three-fold. First, PIMCO funds are some of the most nimble movers across the fund space both in terms of underlying portfolio allocations as well as shifts in ri...

Over the last few weeks and across a number of articles we have been focused on the changes in leverage of PIMCO CEFs. Our view has been that changes in borrowings are key drivers of fund earnings and, by extension, distribution sustainability. Today we saw three taxable CEFs cut their distrib...

In our previous articles on PIMCO CEFs, we discussed how these funds have deleveraged in March to varying degrees due to already elevated leverage levels and sharply falling NAVs. April saw continued deleveraging across a number of taxable funds with some funds playing catch-up while other fun...

The last few weeks have seen enormous volatility across financial markets. The CEF space has been particularly hard hit due to the funds' use of leverage alongside sharply widening discounts. Increased volatility tends to go along with increased dispersion, which can open up both tactical and ...

Author's note: This article was initially released to members on April 20, 2020. The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price movements in closed-end fund [CEF] sectors in the last week, as well as to highlight recently concluded ...

NEW YORK, April 01, 2020 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund’s common shares as summarized below. The distribu...