CEF Weekly Review: CEFs Rally Through First Fed Cut

Sep. 28, 2024 11:19 PM ETDTF, PCF, SPMC
(5min)

Summary

  • We review the CEF market valuation and performance through the third week of September and highlight recent market action.
  • Most CEF sectors rose, led by preferreds and convertibles.
  • The DTF Tax-Free Income 2028 Term Fund Inc. offers a high pull-to-NAV yield and low-risk profile with no leverage.
  • High Income Securities Fund's special meeting aims to approve new proposals, potentially rewarding investors with a significant tender offer.
  • Sound Point Meridian Capital was added to our Income Portfolios as a tactical allocation.
  • 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 »

Financial Data - Stock Market, Prosperity, Bull Market - Green And Red Stock Charts, Graphs Going Up, Financial Gains

DKosig

Welcome to another installment of our CEF Market Weekly Review, where we discuss closed-end fund ("CEF") market activity from both the bottom-up – highlighting individual fund news and events – as well as the top-down – providing an overview of the broader market. We also try to provide

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This article was written by

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ADS Analytics is a team of analysts with experience in research and trading departments at several industry-leading global investment banks. They focus on generating income ideas from a range of security types including: CEFs, ETFs and mutual funds, BDCs as well as individual preferred stocks and baby bonds.

ADS Analytics runs the investing group Systematic Income which features 3 different portfolios for a range of yield targets as well interactive tools for investors, daily updates and a vibrant community.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of DTF, SPMC 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.

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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Related Stocks

SymbolLast Price% Chg
DTF--
DTF Tax-Free Income 2028 Term Fund Inc.
PCF--
High Income Securities Fund
SPMC--
Sound Point Meridian Capital Inc

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