PIMCO Update (Quick) | January 2024 | Watch The NAV Momentum Turn [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
The drop in the dollar has put downward pressure on funds with exposure to foreign bonds and currency forwards contracts. Leverage is a key consideration for assessing NAV trends, and some funds have reduced leverage significantly in the past month. Today, I hold the vast majority of my PIMCO allocation in PCN, PDI, and PDX with a more moderate allocation in PFN. Not much has changed in the last month or two regarding the fundamentals of the taxable PIMCOs. However, we have seen a shift in valuations and sentiment along with NAV momentum. Why do I say nothing much has happened fundamentally? The chart below shows that the average 3-month coverage ratio hasn't moved all that much in the last few months and really since July. Coverage ratios for a few select funds did bounce but then fell back to these 'normalized' ranges. We have seen the dollar drop a bit against the euro and the pound, putting downward pressure on those funds with the most exposure to foreign bonds and t
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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
- 4/18/24 - Form 4
- 4/17/24 - Form SC
- 4/15/24 - Form SC
- PTY's page on the SEC website