Main Thesis
The purpose of this article is to evaluate the PIMCO Income Strategy Fund (PFL) as an investment option at its current market price. PFL is a fund I have been recommending throughout 2019, and that recommendation remains in place today. The fund has seen a respectable gain since my last review, and its premium to NAV, while higher than earlier in the year, remains reasonable when alternative funds are considered. Furthermore, PFL's income production has markedly improved, indicating the high income stream is safe heading in to 2020. Finally, PFL's NAV