PHK News and Press, Pimco High Income Fund From 05/01/21

With yields on fixed-income assets at historic lows, distribution sustainability has become top-of-mind for many income investors. We take a look at some of the key metrics in gauging distribution sustainability for PIMCO taxable CEFs. We continue to view PHK and the new fund PDO,...

We take a look at the Limited Duration CEF sector which offers one way for income investors to shorten up on their interest rate sensitivity. Investors seeking a higher income level as well as tactical investors on the lookout for cheaper discount valuations should consider BGH. A...

Large-cap stocks hit new highs on strong data with record highs set several times during the week and finished very strong rising 300 points on Friday. Discounts on taxable bond CEFs are now very close to NAV. My calculation (which adjusts for the massive premiums on the CLO funds) sh...

We discuss the leverage and distribution coverage figures of PIMCO CEFs for February. We also highlight the interest-rate positioning in the taxable suite, which, in large part, is responsible for the performance of the taxable funds in this rising rate environment. We continue to...

Rising rates have been top of mind for income investors since the start of the year. The usual approach to rising rates has two problems. It fails to distinguish between two different rising rate environments and their different impact on assets. And it uses the textbook definitio...

The PIMCO coverage ratio looks fine for now. The dollar has rebounded in February and March which should place upward pressure on the coverage figure next month. The taxable funds are all doing well fundamentally and we look at a host of factors outside of coverage. The valuation,...

13 out of 23 CEF sectors positive on price and 13 out of 23 sectors positive on NAV last week. MLPs lead while commodities lag. BSTZ/BMEZ boosts distributions by +48.7% and +45.0% respectively. For further details see: Weekly Closed-End Fund Roundup: March 7, 2021

We discuss the leverage and distribution coverage figures of the PIMCO taxable CEF suite for January. We also highlight the newly IPOed fund - PDO and its distribution rate. Our pick in the suite remains PHK though we have marginally reduced our allocation in light of a growing pr...

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....