PFL: After A Big Run, I'd Be More Cautious Here (Rating Downgrade) [Seeking Alpha]
PIMCO Income Strategy Fund Shares of Beneficial Interest (PFL)
US:NYSE Investor Relations:
pimco.com/en-us/investments/closed-end-funds/income-strategy-fund
Company Research
Source: Seeking Alpha
This fund has performed extremely well since my buy rating, but I believe a more moderate stance is the right call going in to Q2. I see challenges for high yield credit and non-US debt. PFL is overweight both. This idea was discussed in more depth with members of my private investing community, CEF/ETF Income Laboratory. Learn More » Main Thesis & Background The purpose of this article is to evaluate the PIMCO Income Strategy Fund ( NYSE: PFL ) as an investment option at its current market price. PFL is a closed-end fund whose investment objective is to "seek high current income, consistent with the preservation of capital". I wrote about PFL roughly a year ago when I had a favorable outlook for the fund. I thought high yield was going to get a broad boost and I saw some underlying value in this particular CEF. In hindsight, I was spot-on in that assessment as the fund has performed quite well since that time: While it is always fun to take a victory lap when calls turn
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PFL
Sec Filings
- 4/18/24 - Form 4
- 4/17/24 - Form SC
- 4/15/24 - Form SC
- PFL's page on the SEC website