GFY: An “Orphaned Position” In The Closed-End Fund Market [Forbes]
Western Asset Mortgage Opportunity Fund Inc. (DMO)
US:NYSE Investor Relations:
leggmason.com/en-us/products/closed-end-funds/western-asset-mortgage-defined-opportunity-fund-inc.html
Company Research
Source: Forbes
As nominal treasury rates and global interest rates continue their downward trend, opportunities for attractive, risk-adjusted returns in today’s market are seemingly few and far between. However, the closed-end fund market still offers a number of opportunities. At RVP, we scour these overlooked areas of the market to find underpriced, quality assets for our investors. Western Asset Variable Rate Strategic Fund Inc. (ticker: GFY) is one such opportunity. GFY is an example of an “orphaned position”: a stock that has been largely ignored by the market. GFY is a closed-end fund with a diverse portfolio of 400 holdings, primarily non-agency mortgages and corporate bonds that have a near-investment-grade average credit quality and a duration of less than one year. The fund currently has $83 million in net assets and is very modestly leveraged (22%), due in part to the fund’s relatively low-risk investments. Both nominally and relative to other mortgage-focused funds, GFY continues to trad
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DMO
Sec Filings
- 4/23/24 - Form D/A
- 3/11/24 - Form N-CEN
- 3/8/24 - Form 424B3
- DMO's page on the SEC website