PFN News and Press, PIMCO Income Strategy Fund II From 11/18/20

We review October leverage figures for the PIMCO taxable suite. We find that fund borrowings decreased slightly, possibly due to already high leverage levels and tightening underlying asset valuations. We also look at the recent outperformance of funds with greater yield curve ste...

To review, Ackman's Pershing Square made a killing earlier this year, paying a tiny premium to purchase corporate credit protection. When the pandemic panic hit, the value of that protection soared. At roughly the same time Ackman in mid-March appeared on CNBC, more or less in tears about how...

PFN has performed well over the summer months, and risk-on assets continue to pique investor interest. The fund's premium continues to make me cautious, as does recent UNII figures that are not very encouraging. High yield bonds remain an area for the bold. However, a large percen...

We take a look at the August coverage figures alongside the annual shareholder reports. If you were confused by the July coverage figures, you're going to hate the August report sequel. The circumstances around the strange income levels over the past 2 months suggest that they are...

PIMCO recently released their July distribution coverage figures, creating a lot of consternation in the income investor community. In this article, we discuss some of the surprises of the release, particularly in the taxable space. We continue to maintain an allocation to the High Income Fund...

NEW YORK, Aug. 03, 2020 (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 dis...

Taxable PIMCO CEFs remain one of the best-performing and hence best-regarded funds in the world of income investing. There are many drivers behind the stellar track record: elevated leverage, exotic holdings, the use of auction-rate preferreds, at-the-market offerings and others. In this artic...

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...

Main Thesis The purpose of this article is to evaluate the PIMCO Income Strategy Fund II (PFN) as an investment option. PFN is a fund I thought would be a decent buy during the sell-off, but my timing was much too early. While PFN has rebounded nicely off its low, I am now a bit more cautiou...

(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 ...