Coverage For PIMCO CEFs Continues To Improve [Seeking Alpha]
PCM Fund, Inc. (PCM)
US:NYSE Investor Relations:
pimco.com/en-us/investments/closed-end-funds/pcm-fund-inc
Company Research
Source: Seeking Alpha
Summary Coverage for PIMCO CEFs Continues to Move Up The June coverage and UNII is out for PIMCO CEFs and we now have three consecutive strong months. Three-month rolling coverage improved for ten of the eleven taxable-income CEFs. The only one that slipped was PCM Fund ( PCM ) and it only gave up half a percentage point. The big—really big—winner is PIMCO Dynamic Credit Income ( PCI ). PCI’s coverage ratio has moved from 71% for the first quarter of 2018 to 182% for the second quarter. Its coverage for the trailing twelve-month period is 110% making it the top fund. Remarkably, as of Monday’s close PCI remains the only taxable-income1 CEF from PIMCO that has a discount (-0.55%). For much of the recent past PCI has tracked PDI 's premium moving with it to maintain a near constant distribution yield for these two similar funds. But PDI's premium has grown driving its distribution to 8.2%, while PCI is at 8.4%, not a big difference but more th
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Sec Filings
- 3/5/24 - Form N-CSRS
- 2/27/24 - Form NPORT-P
- 2/5/24 - Form 3
- PCM's page on the SEC website