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Over the last few weeks and across a number of articles we have been focused on the changes in leverage of PIMCO CEFs. Our view has been that changes in borrowings are key drivers of fund earnings and, by extension, distribution sustainability. Today we saw three taxable CEFs cut their distrib...
Going Where the Road Takes You I was ten in 1970 when Kris Kristofferson released his first album, “Kristofferson.” At that time, I was more accustomed to listening to my mom’s favorites: Italian artists from the Sixties and some singles from Sinatra, Edith Piaf and N...
Author's note: This article was initially released on May 15, 2020 and data are from that date. Please check latest data before investing. Chemist's Closed-End Fund Report Quantitative screens help to rapidly narrow down attractive candidates from the database of 500-plus closed-end ...
In our previous articles on PIMCO CEFs, we discussed how these funds have deleveraged in March to varying degrees due to already elevated leverage levels and sharply falling NAVs. April saw continued deleveraging across a number of taxable funds with some funds playing catch-up while other fun...
The last few weeks have seen enormous volatility across financial markets. The CEF space has been particularly hard hit due to the funds' use of leverage alongside sharply widening discounts. Increased volatility tends to go along with increased dispersion, which can open up both tactical and ...
“The First Cut Is the Deepest” In 1967, a little-known English singer of Greek origin, Steven Demetre Georgiou, released his second album, “New Masters,” under the pseudonym Cat Stevens. This album included 12 songs, among which the most famous is “The Fi...
Author's note: This article was initially released to members on April 20, 2020. The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price movements in closed-end fund [CEF] sectors in the last week, as well as to highlight recently concluded ...
Written by Nick Ackerman, co-produced by Stanford Chemist We are continuing to navigate a volatile environment. Most are quite aware of the risks of the distribution cuts that will be coming down the pipeline shortly. We have already begun seeing cuts from some of the funds in the CEF wo...
Author's note : This article was released to CEF/ETF Income Laboratory members on April 13, 2020, and includes a rare reposting of CEF news compilation and our commentary to members. The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price m...
NEW YORK, April 13, 2020 (GLOBE NEWSWIRE) -- The following PIMCO closed-end funds (each, a “Fund” and collectively, the “Funds”) today announced changes to the time and location of the Funds’ upcoming Joint Annual Meeting of Shareholders (the “Meeti...
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NEW YORK, April 15, 2024 (GLOBE NEWSWIRE) -- PIMCO Corporate & Income Strategy Fund (NYSE: PCN), PIMCO High Income Fund (NYSE: PHK), PIMCO Income Strategy Fund (NYSE: PFL), PIMCO Income Strategy Fund II (NYSE: PFN) and PIMCO Corporate & Income Opportunity Fund (NYSE: PTY) (each, a “...
NEW YORK, March 01, 2024 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund’s common shares as summarized below. The distribu...
2024-02-01 03:54:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...