PFN News and Press, PIMCO Income Strategy Fund II From 04/09/22

PTY, PFL and PFN have performed exactly as we expected. We go over the driving factors behind the accurate call and the recent moves by the Federal Reserve. Returns should be poor for some more time and investors should tread cautiously. For further details see: PTY, PFL...

WDI is a multi-sector bond fund that invests with a particular focus on being flexible. At this time, most of their positions are in high-yield bonds and MBS holdings. Since launch, the fund has been sliding downward, but it seems to be poor timing and not necessarily anything fun...

Recent market volatility has opened up discount valuation divergences between very similar CEFs. This offers income investors an opportunity to pick up additional yield, adopt a more defensive stance and generate alpha in their portfolios. We highlight a number of switches in the ...

PDI is a diversified fixed income closed end fund managed by PIMCO. Following a merger with PCI and PKI, two similar funds from PIMCO, PDI is approaching the end of its first full quarter as a combined vehicle. Performance has been rough due to emerging and materializing risk fact...

We have stubbornly refused to buy into the hype of PTY and PDO. The pricing has improved, and the recent selling looks like capitulation. Sentiment indicators line up as well. Do we go in? For further details see: PDO And PTY: Trade The Trounce But Fade The Bounce

This is one way closed-end funds can grow their total share count, contrary to the "closed" part of their structure. When utilizing a dividend reinvestment plan or DRIP, it is generally a win-win-win scenario for all involved. Many DRIPs are implemented in the same manner, with th...

Today, we are looking at how to tell if a fund might be paying a sustainable distribution or not. We use several examples covering both fixed-income and equity funds to help highlight their differences. Overall, fixed-income funds are more straightforward to analyze than equity fu...

Only funds with yields over 6.5%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given. The top DxY funds are ARDC, EHI and JRI. Buys affirmed on portfolio holdings, ARDC, JRI and HYB. For furth...

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...

Coverage ratios and UNII levels for most of the taxable PIMCO funds look very compelling here. NAVs remain weak and leverage is in the middle of their range for the last several years. If NAVs can stabilize, we think the current valuations are extremely attractive and could be bou...