- PCM has caught my attention recently because it is now the most expensive non-muni CEF offered by PIMCO.
- This is unusual for this fund, and tells me caution should be exercised before buying in at these levels.
- However, there are some positives. The fund holds high yield credit and non-agency MBS. Both of these sectors I expect to do well in the second half of the year.
- The fund's income metrics are currently quite strong. This limits the downside of the fund since many investors buy this as an income play.
For further details see:
PCM: Attractive Holdings, Unattractive Price