CCD: Widening Premium To NAV Increases Risk [Seeking Alpha]
Calamos Dynamic Convertible & Income Fund - Closed End Fund (CCD)
US:NASDAQ Investor Relations:
calamos.com/fundinvestor/closedendfunds/cefund.aspx?name=ccd
Company Research
Source: Seeking Alpha
CCD fund pays a high distribution rate of 12.0% of NAV, which is higher than its 5-year average annual returns of 9.4%. The fund is trading at a 13% premium to NAV, which may be vulnerable if the fund resets its distribution rate lower. The Calamos Dynamic Convertible and Income Fund ( NASDAQ: CCD ) is a closed-end fund ("CEF") focused on generating total returns from convertible and high-yield bonds. My main concern with CCD fund is that it is paying a 12.0% of NAV distribution rate, which appears to be high relative to 5Yr average annual returns of 9.4%. Furthermore, the CCD fund is trading at a steep 13% premium to NAV, which may be vulnerable if the fund ever decides to reset its distribution rate. Fund Overview The Calamos Dynamic Convertible and Income Fund aims to deliver capital gains and high income from a diversified portfolio of convertible securities, high-yield bonds, and equity securities. The CCD dynamically allocates between the three asset classes to optimi
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News
- Calamos Investments Closed-End Funds (NASDAQ: CHI, CHY, CSQ, CGO, CHW, CCD and CPZ) Announce Monthly Distributions and Required Notifications of Sources of DistributionPR Newswire
- Calamos Launches S&P 500® Structured Alt Protection ETF™ - May (CPSM), Announces 9.81% Upside Cap Rate with 100% Downside Protection Over One YearPR Newswire
- Calamos Investments Taps Veteran BlackRock Distribution Executive to Lead RIA SalesPR Newswire
- Calamos Investments Closed-End Funds (NASDAQ: CHI, CHY, CSQ, CGO, CHW, CCD and CPZ) Announce Monthly Distributions and Required Notifications of Sources of DistributionPR Newswire
- Calamos Investments Closed-End Funds (NASDAQ: CHI, CHY, CSQ, CGO, CHW, CCD and CPZ) Announce Monthly Distributions and Required Notifications of Sources of DistributionPR Newswire