PFN News and Press, PIMCO Income Strategy Fund II From 12/13/22

Summary The markets have added to the gains they started in October. I add to my investments every month; however, this month, I did quite a bit of movement with several positions I sold too. The opportunities weren't always with similar funds, but the decisions were valuation drive...

Summary PGIM High Yield Bond Fund (ISD) is a high yield CEF from PGIM Investments. ISD is conservatively built, with a granular portfolio approach and a low leverage ratio of only 20%. Long-term, the fund's performance matches other well regarded CEFs in the space. From a rating...

Summary Cash was made to appear to be trash by lowering risk free rate. The relentless bid in assets actually made cash the king of all trades. We look at the giant yields on PTY and PFN and see if they have been punished enough to merit a buy. The cycle never changes, o...

Summary I have often compared CNBC to the ESPN sports network, with panels of experts giving non-stop commentary on the sports or financial worlds. Both have the same business model: get viewers addicted so they'll watch all the time, regardless of whatever is happening. Unfor...

Summary The PCM Fund is a fixed income CEF from the Pimco suite. The vehicle has historically traded at very high premiums to NAV, which constantly exceeded 10%. The fund is overweight Non-Agency Mortgages and High Yield, having pivoted towards non-agency MBSs this year. T...

Summary PIMCO closed end funds continue to struggle against macro forces. PTY and PFL went lower since our last article and vindicated our decision to stay out. We analyze the setup today and tell you if a change in rating is warranted. Consistency is the key to deliveri...

PFN has traded modestly well since my last review, so caution was vindicated over the longer term. I see merit to owning and/or holding this fund, given the double-digit yield and strong income metrics. However, some risks remain as well. The fund has a pretty sizable premium to N...

21 out of 23 CEF sectors positive on price and 16 out of 23 sectors positive on NAV last week. Covered call leads while commodities lag. MLPs are the most widely discounted CEF sector. Author's note: This article was released to CEF/ETF Income Laboratory members on...

AIF is a closed-end fund with a 70/30 leveraged loans/high yield bonds allocation. The fund comes from a premier asset manager in Apollo and leverages the manager's deep investment platform. AIF has a high concentration of "B" and "CCC" credits, which account for over 70% of the u...

PDO hiked its NAV distribution rate by 8%, now boasting a current yield of 10.77% as of this writing. The hike didn't catch our readers by surprise, as we've been discussing the fund's comically high coverage and UNII levels for months. We expect valuation of PDO to improve furthe...