PFL News and Press, PIMCO Income Strategy Fund Shares of Beneficial Interest From 07/08/21

PIMCO Income Strategy Fund has provided steady income in good times and bad. We look at the current macro environment for generating high yields. Alongside the challenge of squeezing blood from stone, the fund also faces a second headwind. We would stay out at present. F...

My portfolio returned 16.4% in the first half of 2021, above the S&P total return of 15.2% despite a fixed income allocation of 17% in my holdings. A rotation from growth to value helped drive performance. This can continue as interest rates return to more normal levels. Merge...

PDI and PCI continue to have weak fundamentals. PDO continues to be the best buy in the space. PMX falls back to the buy-range. Since this article, PDO's valuation has skyrocketed above what we deem fair value.  Subsequently, coverage ratios for PCI and PDI have fallen dr...

1 out of 23 CEF sectors positive on price and 1 out of 23 sectors positive on NAV last week. MLPs lead while convertibles lag. Limited duration is the highest-yielding CEF sector. For further details see: Weekly Closed-End Fund Roundup: May 16, 2021

My start of 2021 forecast that my more value-oriented portfolio would beat the S&P 500 has been correct so far. Many high-yielding investments have done well but are now getting expensive. Some cash and mostly cash merger arb spreads now offer attractive returns over a mostly ...

PFL is trading at a high premium to net asset value not seen in nearly 10 years. High-yield bond spreads vs. Treasuries are approaching lows touched in 2007 and 2014 - historically bad entry points for PFL. The fund is covering about 75% of distributions with investment income - d...

Markets remained quite lofty, though later in January we got some volatility to spice things up. Overall, still holding a considerable cash position to take advantage of any market correction when it comes. The broader indexes were heading higher for most of the month before pulli...

We take a look at the PIMCO CEF leverage and coverage numbers for December. Overall, December was a pretty good month for shareholders as coverage increased across the board, NAV gains exceeded distributions while PIMCO took aggregate leverage lower to reflect less attractive valuatio...

The taxable PIMCO CEFs are still trading below 100% coverage thanks to the falling dollar. That could improve in January as the dollar has rebounded some. In this space, we continue to like RCS and PHK. PGP is a good S&P 500 proxy. Muni CEF coverage continues to get healthier....

PFL's great long-term performance can be interrupted by huge downdrafts such as the nearly 50% loss during the March 2020 COVID crash. The fund has recovered well since March and 1-year total return is now comparable to popular lower-risk index ETF's. The fund's monthly distributi...