CCD: Regime Change

Binary Tree Analytics
5.11K Followers

Summary

  • Calamos Dynamic Convertible and Income Fund (CCD) is a closed-end fund focused on convertible securities.
  • The CEF had eye-watering results in the 2019-2021 period, with average annualized total returns exceeding 30%.
  • The vehicle benefits from a great management team that has been able to fully cover the dividend in 2022, despite having the underlying collateral in the red.
  • This article covers CEFs from our suite of products - we focus on macro portfolio allocation, CEFs, and yield-generating options strategies, targeting overall yearly portfolio returns of 9%+.
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Thesis

Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD) is a closed end fund focused on convertible securities. The vehicle is overweight convertible securities, which currently account for over 78% of the fund. The CEF has had an outstanding performance during the 2020/2021 zero

This article was written by

5.11K Followers
With an investment banking cash and derivatives trading background, Binary Tree Analytics ('BTA') aims to provide transparency and analytics in respect to capital markets instruments and trades. BTA focuses on CEFs, ETFs and Special Situations, and aims to deliver high annualized returns with a low volatility profile. We have been investing for over 20 years after obtaining a Finance major at a top university.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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