PCN: Good Bond CEF With Fully-Covered Distribution, But Huge Premium Is Problematic [Seeking Alpha]
Pimco Corporate & Income Strategy Fund (PCN)
US:NYSE Investor Relations:
pimco.com/en-us/investments/closed-end-funds/corporate-income-opportunity-fund
Company Research
Source: Seeking Alpha
The PCN closed-end fund has underperformed the Bloomberg U.S. Aggregate Bond Index in terms of price performance over the past six months. The fund's high premium to net asset value and potential weakness in the bond market suggest a "hold" rating. The fund appears to be fully covering its distribution, although it was only able to accomplish this due to unrealized gains in the second half of 2023. The fund is trading at an enormous premium right now, which could cause problems if the Federal Reserve cannot justify interest rate cuts in 2024. Looking for a helping hand in the market? Members of Energy Profits in Dividends get exclusive ideas and guidance to navigate any climate. Learn More » The PIMCO Corporate & Income Strategy Fund NYSE: PCN ) is a closed-end fund, or CEF, that income-focused investors can employ in pursuance of their objectives. As is the case with most PIMCO closed-end funds, this one appears to be very good at the provision of income for its investors,
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PCN
News
- PIMCO Closed-End Funds Declare Monthly Common Share DistributionsGlobeNewswire
- PIMCO Corporate & Income Strategy Fund, PIMCO High Income Fund, PIMCO Income Strategy Fund, PIMCO Income Strategy Fund II and PIMCO Corporate & Income Opportunity Fund Announce Final Results of Tender Offers for Auction Rate Preferred SharesGlobeNewswire
- PIMCO Closed-End Funds Declare Monthly Common Share DistributionsGlobeNewswire
- Certain PIMCO Closed-End Funds Announce Tender Offers for Auction Rate Preferred SharesGlobeNewswire
- Pimco Closed-End Funds Declare Monthly Common Share DistributionsGlobeNewswire
PCN
Sec Filings
- 4/18/24 - Form 4
- 4/17/24 - Form SC
- 4/15/24 - Form SC
- PCN's page on the SEC website