Seeking Alpha

PIMCO Global StocksPLUS&Income Fund (PGP)

  • Nov. 20, 2014, 3:09 PM
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  • Mar. 19, 2014, 12:22 PM
  • May 28, 2013, 1:01 PM
    Heavy selling hits a number of Pimco income funds, notably the High Income Fund (PHK -4.3%) with heavy exposure to high-yield paper and the financial sector. The decline narrows the fund's premium to NAV to a still-whopping 34%. The Income Opportunity Common Fund (PKO -2.2%) trades at just a slight premium, while the Dynamic Income Fund (PDI -2.8%) sells for about a 5% discount. Others: (PTY -3.6%), (PCN -2%), (PGP -5.3%), (PFN -1.5%).
  • Dec. 3, 2012, 4:35 PM
    PIMCO Global StocksPLUS® & Income Fund (PGP) declares $0.18335/share monthly dividend, in line with previous. Forward yield 11.65%. For shareholders of record Dec. 13. Payable Jan. 02. Ex-div date Dec. 11. (PR)
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  • Oct. 15, 2012, 3:04 PM
    "Eat(ing) his own cooking," Bill Gross puts his own money into two Pimco closed-end offerings trading at premiums to their NAV. PCN and PTY sell at "just" 17%. and 18.5% premiums, respectively, but Gross notably did not pick up any PHK or PGP, both trading at more than 50% over NAV even after the recent sell-off.
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  • Oct. 10, 2012, 12:41 PM
    Not limited to mortgage REITs, panic grips another favorite of income investors, closed-end investment funds - notably those trading far above NAV for seemingly no other reason than their fat yield. The payouts on many of these are sustained by digging into capital rather than by earning a return on it. PGP -7.5%, PHK -7.8%, PHT -5.5%.
  • Oct. 8, 2012, 3:25 PM
    Blinded by fat yields, investors continue to bid closed-end funds far higher than their NAVs. 66% of taxable and 73% of muni-bond funds trade above NAV now, compared to just 30% a year ago, with often the funds with the highest distributions having the highest premiums. "We believe that an excessive premium for the fund is not likely to be sustainable," says Gabelli of one of its funds. Are investors listening?
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Company Description
The investment objective is to seek total return comprised of current income, current gains and long-term capital appreciation. The objective is normally attempted to achieve by investing in equity index derivative instruments that have economic characteri