PAXS: 10.71% Yielding CEF From PIMCO Could Thrive In A Lower Rate Environment [Seeking Alpha]
PIMCO Access Income Fund (PAXS)
Company Research
Source: Seeking Alpha
The fund's performance is dependent on the macroeconomic environment and the Fed's interest rate decisions. I am becoming more bullish on PAXS, anticipating potential capital appreciation and ongoing income generation in a rate-cutting environment. The PIMCO Access Income Fund ( NYSE: PAXS ) debuted at one of the worst possible times. In February of 2022, the market started imploding, and the rate hike cycle was just getting started. Nobody could have predicted how quickly rates would increase or how high the Fed would take them, and PAXS got caught between a rock and a hard place. As its underlying portfolio consists of investments throughout global credit markets, there wasn't necessarily an opportunity for PAXS to play offense. Shares got caught in a downtrend, and once the Fed signaled that we were at the end of the tightening cycle, its net asset value (NAV) and share price started to rebound. Over the past year, shares of PAXS are basically flat despite an outsized decline
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PAXS
Sec Filings
- 3/5/24 - Form N-CSRS
- 2/27/24 - Form NPORT-P
- 2/7/24 - Form SC
- PAXS's page on the SEC website