Pimco CEF no longer on sale

|By:, SA News Editor

Several weeks after Bill Gross purchased more of the Pimco Dynamic Income Fund (PDI) for his own account, its roughly 5% discount to NAV has disappeared.

The same, however, isn't true for Pimco Dynamic Credit Income (PCI), though it's also managed by well-regarded Dan Ivascyn. One reason for caution might be the relative newness of the fund, writes Brendan Conway.

In the meantime, two Pimco CEFs which are known for sporting towering premiums to NAV continue to do so, the Pimco Global StockPLUS & Income Fund (PGP) and the Pimco High Income Fund (PHK). Two other Pimco CEFs at discounts: Pimco Income Strategy Fund (PFL) and Pimco Income Strategy Fund II (PFN).