PDI gains after dividend boost

|By:, SA News Editor

Pimco Dynamic Income Fund (PDI +0.7%) gains after perhaps unexpectedly bumping its monthly payout 7.9% to $0.191 per share. The current price of $29.04 is a 5.2% discount to yesterday's closing NAV.

Worth keeping in an eye on is the saga of Elke Batista's OGX Petroleo, and whether it will default. According to David Schawel, PDI fund manager Daniel Ivascyn owns a decent slug of the failing company's paper.