PTY: Not A Good Time To Buy This High-Yield CEF [Seeking Alpha]
Pimco Corporate & Income Opportunity Fund (PTY)
US:NYSE Investor Relations:
pimco.com/en-us/investments/closed-end-funds/corporate-income-opportunity-fund
Company Research
Source: Seeking Alpha
SummaryAfter a huge drawdown in March, PTY has clawed back most of its losses.However, it's done so in large part due to its premium to net asset value surging to 28%. NAV remains down meaningfully from pre-pandemic levels.With the Fed's corporate bond buying effort set to slow down after December, look for weakness in the high-yield space.At a large premium to NAV and with risk to the downside in corporate bonds here, PTY is not attractive today.The PIMCO Corporate & Income Opportunity Fund(NYSE:And its historical performance has been strong, even though results have trailed off over the past three years. It has barely beaten long-dated unlevered treasury bonds (TLTData by YChartsThat said, PTY has beaten the S&P 500 and government bonds in total returns if you zoom out farther. That's an impressive accomplishment for a fixed income product, even acknowledging the high degree of leverage the fund uses to achieve those returns. Throw in the monthly dividend and it's not hard to see th
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PTY
News
- PTY: Monthly Paying CEF That Could Benefit From Rate Cuts [Seeking Alpha]Seeking Alpha
- PTY: Strong Gains Despite Worsening Prospects, Time To Rotate Out [Seeking Alpha]Seeking Alpha
- BOND: Does This Active Bond Fund Deliver? [Seeking Alpha]Seeking Alpha
- PTY Has Been Holding Steady While Generating Monthly Income, Yielding Over 10% [Seeking Alpha]Seeking Alpha
PTY
Sec Filings
- 4/17/24 - Form SC
- 4/15/24 - Form SC
- 3/13/24 - Form DEF
- PTY's page on the SEC website