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In Search Of Income: High-Yield Bond CEFs (Part I)
- High-yield bond closed-end funds have experienced a significant sell-off in the first half of December as the markets digest concerns about the falling cost of oil.
- This fund sector offers some of the highest income potential of any fixed-income CEFs for investors willing to bear the credit risk and beta risk inherent in them.
- Current depressed fund values - and relatively wide discounts to fund values - make this an attractive entry point for risk-tolerant investors with a long-term investment horizon.
In Search Of Income: Preferred CEFs (Part II)
- Closed-end funds should be evaluated along multiple dimensions, including distribution yield, NAV performance, valuation, and risk factors.
- Depending on individual investor priorities, a variety of preferred CEFs may be particularly attractive to investors.
- Two funds, JH Premium Dividend Fund and Nuveen Preferred & Income Term, score highly along all dimensions and are particularly appealing investment candidates.
In Search Of Income: Preferred CEFs (Part I)
- Preferred closed-end funds offer several advantages over direct investments in preferred stocks as well as over other income-producing fund types.
- Closed-end funds are best evaluated along multiple dimensions, including distribution yield, NAV performance, valuation, and risk.
- The preferred CEF sector currently offers a very attractive source of income for investors willing to accept some level of market beta.
Ready For The Holiday Shopping Season - In Closed-End Funds?
Thu, Nov. 13 • 15 Comments
- Tax-loss selling appears to be a major force in the closed-end fund marketplace.
- However, selling pressure has historically been strongest in early-to-mid November.
- Long-side investors should begin readying their shopping lists of fund bargains that have been excessively battered in the tax-loss season sell-off.
Look Out Below! PIMCO Closed End Funds Suffer From Bill Gross Departure
- Nearly all of PIMCO's 19 closed end bond funds took a beating today in the wake of Bill Gross' departure.
- Despite today's sell-off, these CEFs remain at lofty premium pricing levels, far out of line with peer funds.
- PIMCO CEF longs should strongly consider their reasons for holding any PIMCO funds.
7 MLP Closed End Funds On Clearance Sale
- Closed end funds focusing on the MLP sub-sector are currently trading at extreme discounts to net asset value and represent a very attractive buying opportunity.
- The recent declines in price have coincided with announcement of the Kinder Morgan reorganization, which has been generally seen as a positive factor for the MLP sector.
- Particularly attractive opportunities exist within seven MLP closed end funds.
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