- PIMCO CEFs made news recently, with distribution cuts to a number of funds. The pain was swift, and even those that did not see cuts got impacted.
- PCN was not impacted by an income cut, although it did see some volatility on the news. Fortunately, investors may view PCN's distribution more favorably now, since it survived that latest round of cuts.
- High yield credit continues to see underlying improvement, which bodes well for this particular CEF.
- However, PCN still has a very high premium, which should give investors pause. Further, recent income metrics do not exactly put me at ease.
For further details see:
PCN: Income Constant, Premium Still Sky-High