In this article, we provide an update on the PIMCO CEF suite. Specifically, we discuss recent changes in distribution coverage. We also discuss the surprising increase in Muni fund coverage levels with our takeaway to not take it at Check out Systematic Income and explore our Income Portfolios, engineered with both yield and risk management considerations. Use our powerful Interactive Investor Tools to navigate the BDC, CEF, OEF, preferred and baby bond markets. Read our Investor Guides: to CEFs, Preferreds ...

Group 1 - The article discusses the closed-end fund (CEF) market activity, providing insights from both individual fund news and broader market trends [1] - It highlights the importance of yield and risk management in investment portfolios, particularly through the offerings of Systematic Income [1] Group 2 - A projected revenue backlog for American Shared is presented, showing a significant increase from $106 million on December 31, 2022, to a projected $250 million by May 10, 2024 [2] - The chart includes projected revenues for the next ten years for retail centers and lease agreements until their expiration dates [2]

Closed end funds or CEFs are rather common vehicles through which yield-driven investors build their portfolios in order to maximize the income potential. While there could be many shapes and forms for CEFs, in many cases we will find a presence of Roberts Berzins has over a decade of experience in the financial management helping top-tier corporates shape their financial strategies and execute large-scale financings. He has also made significant efforts to institutionalize REIT framework in Latvia to boost ...

The way I approach markets is to look for relative value and sometimes this is discovered on the Short side, which is not the most popular way on this platform, but in this article I will Analyst's Disclosure: I/we have a beneficial short position in the shares of CCD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any comp ...

In our last Municipal CEF update in June, we highlighted that we viewed the sector as very attractive owing to high nominal and real rates, wide discounts and high and rising distributions. Since then, the sector has outperformed nearly all other fixed-income Check out Systematic Income and explore our Income Portfolios, engineered with both yield and risk management considerations. Use our powerful Interactive Investor Tools to navigate the BDC, CEF, OEF, preferred and baby bond markets. Read our Investor ...

Welcome to another installment of our CEF Market Weekly Review, where we discuss closed-end fund ("CEF") market activity from both the bottom-up - highlighting individual fund news and events - as well as the top- down - providing an overview of the broader market. We also try to provide Check out Systematic Income and explore our Income Portfolios, engineered with both yield and risk management considerations. Use our powerful Interactive Investor Tools to navigate the BDC, CEF, OEF, preferred and baby bon ...

Group 1 - The article discusses the closed-end fund (CEF) market activity, providing insights from both individual fund news and broader market trends [1] - It highlights the importance of yield and risk management in investment portfolios, specifically mentioning the Income Portfolios offered by Systematic Income [1] - The article encourages the use of Interactive Investor Tools for navigating various financial markets, including BDC, CEF, OEF, preferred, and baby bond markets [1] Group 2 - A projected revenue backlog for American Shared is presented, showing a significant increase from $106 million on December 31, 2022, to a projected $250 million by May 10, 2024 [2] - The chart includes projected revenues for the next ten years for retail centers and lease agreements until their expiration dates, indicating a positive outlook for revenue growth [2]

In this article, we highlight the recently launched CEF Sound Point Meridian Capital (NYSE: SPMC ). The fund is focused on the CLO Equity sector, which we track on our service - an extract from our CEF Tool is shown below. Check out Systematic Income and explore our Income Portfolios, engineered with both yield and risk management considerations. Use our powerful Interactive Investor Tools to navigate the BDC, CEF, OEF, preferred and baby bond markets. Read our Investor Guides: to CEFs, Preferreds and PIMCO ...

After mostly smooth sailing in the first part of the year, volatility in the CEF market has increased recently. In this article, we take a look at the likely moves in CEF discounts over the medium term, as well as their potential Check out Systematic Income and explore our Income Portfolios, engineered with both yield and risk management considerations. Use our powerful Interactive Investor Tools to navigate the BDC, CEF, OEF, preferred and baby bond markets. Read our Investor Guides: to CEFs, Preferreds an ...

Core Insights - The article provides an update on the PIMCO CEF suite, focusing on distribution coverage changes and the allocation profile of the Dynamic Income Strategy Fund (PDX) [1] Distribution Coverage Update - Distribution coverage across taxable and tax-exempt suites has continued to grow, with PDO being the only taxable PIMCO CEF with coverage above 100% at 116%, while the average for the rest is 73% [2] - Municipal fund coverage levels have risen to an average of 113%, with all PIMCO Muni CEFs exceeding 100% coverage, despite stable short-term rates and fixed asset coupons [4][5] - The increase in Muni coverage may be attributed to falling Muni yields, rotation into higher-coupon Municipal bonds, and a buyback of expensive auction-rate preferreds [5][6] PDX Fund Allocation - PDX has shifted its strategy from being energy-focused to a more diversified approach, now allocating only 2.7% to the energy sector, while maintaining a significant allocation to equities and MLPs [8][10] - The fund's current allocation aligns with its strategy guidelines, and it is not expected to shift significantly in the near term [11] - PDX's discount has stalled around a double-digit level, contrasting with a double-digit average premium in the rest of the PIMCO taxable suite [11] Performance and Valuation - Taxable PIMCO funds with strong year-to-date returns include PAXS and PDO, with PDX outperforming due to the strength of the MLP sector [12] - The average premium of taxable PIMCO CEFs is around 18% above the rest of the taxable CEF market, indicating a relatively high valuation compared to historical levels [14] - NAVs of taxable funds have fallen significantly since 2022, making them more attractive to some investors due to increased distribution rates [18] Market Environment - The performance of CEFs is influenced by broader market conditions, with current valuations indicating a potentially expensive environment for new capital [20] - The article suggests that better entry points for CEFs may be available in the medium term as discounts widen and nominal interest rates rise [20]