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Saturday, Jun 22
Bill Gross rejiggers some of his family money amid the bond market rout which hit Pimco's...
Bill Gross rejiggers some of his family money amid the bond market rout which hit Pimco's closed-end income funds particularly hard thanks to their tendency to trade at wide premiums to NAV. He picked up more than $4M worth of the Pimco Corporate & Income Strategy Fund (PCN) last week, and this week sold shares in the Pimco Municipal Income Fund II (PML) and the Pimco Income Strategy Fund (PFL). Last month, Gross unloaded a stake in another fund - PTY - when it was trading at a 21% premium to NAV.