Collateralized loan obligation CEFs have taken a beating in this last drawdown. However, the preferred shares of these funds have remained much more resilient. Over the last few weeks, we have touched on this sector and described some of the structural mitigants that have supported prices. In this article, we turn our attention to the OFS Credit Company 6.875% 2024 Series A Preferred (OCCIP) - the only series issued by the OFS Credit Company (OCCI). The stock closed Tuesday at a 9.28% yield-to-maturity.
Our takeaway is that the preferred has a number of tailwinds and