PNF: Reasons To Buy This NY Municipal Debt Fund [Seeking Alpha]
PIMCO New York Municipal Income Fund (PNF)
US:NYSE Investor Relations:
pimco.com/en-us/investments/closed-end-funds/new-york-municipal-income-fund
Company Research
Source: Seeking Alpha
Summary Main Thesis The purpose of this article is to explain why I believe the PIMCO New York Municipal Income Fund ( PNF ) is an attractive investment option at its current market price. The fund has lagged over the past few months but, because of that, it trades at a very compelling valuation, unlike many of its Pimco CEF counterparts. Furthermore, PNF has seen its income production improve slightly in the short term, which gives me confidence the distribution is safe for the time being. Finally, recent rulings earlier this year by the Supreme Court could positively impact the municipal debt market over the long term. I also believe both of these rulings will disproportionately benefit New York in particular, which is good news for PNF investors. Background First, a little background about PNF. The fund invests at least 90% of its net assets (and at least 80% of its net assets plus any borrowings for investment purposes) in municipal bonds that pay interest that
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Sec Filings
- 4/24/24 - Form SC
- 4/24/24 - Form 3
- 4/18/24 - Form 4
- PNF's page on the SEC website