PIMCO CEF Update: PAXS Follows PDO With A Big Distribution Hike

Sep. 28, 2022 5:55 AM ETNAD, PAXS8 Comments

Summary

  • We provide an August update for the PIMCO CEF taxable and Municipal suites.
  • Taxable coverage and UNII levels improved in August while Muni fund metrics continued to deteriorate on the back of rising leverage costs.
  • Taxable leverage rose slightly as most funds increased borrowings slightly while PDI continued to cut.
  • PAXS raised its distribution by 28% - we discuss some of the key metrics behind the hike and why we anticipated this in our last monthly.
  • I do much more than just articles at Systematic Income: Members get access to model portfolios, regular updates, a chat room, and more. Learn More »

Business And Finance Concept Of A Bull Market Trend High Quality

Darren415

This article was first released to Systematic Income subscribers and free trials on Sep. 19.

In this article, we provide an update on the PIMCO CEF suite. Specifically, we discuss the changes in leverage and coverage for the month of August. In this

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Disclosure: I/we have a beneficial long position in the shares of PAXS, PDO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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