Western Asset Mortgage Opportunity Fund

Western Asset Mortgage Opportunity Fund, Inc. engages in seeking capital appreciation and provision of current income. It invests in a diverse portfolio of mortgage-backed securities which includes non-agency residential and commercial mortgage-backed securities. The company was founded on December 11, 2009 and is headquartered in New York, NY.

Nuveen Mortgage Opportunity Term Fund

PIMCO Access Income Fund

PCM Fund

PIMCO Dynamic Income Fund

PIMCO Dynamic Income Opportunities Fund

PIMCO Income Strategy Fund

PIMCO Income Strategy Fund II

PIMCO Corporate & Income Opportunity Fund

Western Asset Diversified Income Fund

We provide a July update for the PIMCO CEF taxable suite. Taxable coverage fell for the second straight month while tax-exempt coverage remained stable. PIMCO is doing a tender offer of their very expensive auction-rate preferreds.

PIMCO CEF Update: ARPS Go On The Chopping Block

Carlyle Credit Income Fund

We review CEF market valuation and performance through the first week of August and highlight recent market action. The CEF rally paused this week due to the Fitch downgrade and lower than expected jobs numbers. Investors and commentators often focus on the wrong risks of term CEFs.

CEF Weekly Review: The Real Risk For Term CEFs

We review CEF market valuation and performance through the last week of July and highlight recent market action. CEFs continued to march higher this week, closing out July in good form. CEF returns should be gauged in the context of the broader asset class rather than just within the narrow sector.

CEF Weekly Review: Don't Handicap CEF Returns

We last discussed DMO about a year ago, highlighting the strong potential for a dividend hike due to a rising net income trajectory. As expected, the fund has indeed hiked the distribution which, along with its wide discount, translates to a 11.55% current yield as of this writing. The fund's primarily residential mortgage allocation provides an attractive diversifier in income portfolios and is anchored off strong household credit metrics.

DMO: Recent Hike Pushes The Yield On This Mortgage CEF Above 11.5%

The Western Asset Mortgage Opportunity Fund has seen its discount narrow from the deepest levels it was at previously. The fund increased its distribution despite coverage still coming in light, though the good news is seeing NII increase due to floating rate exposure. DMO's portfolio is made up of both residential and commercial MBS exposure, as well as some smaller allocations to other asset-backed securities.

DMO: Discount Narrowing Drives Results

Templeton Emerging Markets Fund

LMP Capital and Income Fund

Templeton Emerging Markets Income Fund

NEW YORK--(BUSINESS WIRE)--The following Funds announced today their share repurchase activity during the second quarter of 2023.

Franklin Templeton Closed-End Funds Announce Share Repurchases for the Second Quarter of 2023

Blackstone/GSO Senior Floating Rate Term Fund

Credit Suisse Asset Management Income Fund

Credit Suisse High Yield Bond Fund

Wells Fargo Income Opportunities Fund

Allspring Global Dividend Opportunity Fund

Wells Fargo Utilities and High Income Fund

Western Asset Global Corp Defined Opportunity Fund Inc

Invesco High Income 2023 Target Term Fund

Nuveen Preferred & Income Term Fund

Nuveen Preferred & Income 2022 Term Fund

We review CEF market valuation and performance through the third week of May and highlight recent market action. CEFs were mostly down on the week as rising Treasury yields were the key headwind.

CEF Weekly Review: Term CEFs Continue To Be Misunderstood

Bancroft Fund Ltd

Center Coast Brookfield MLP & Energy Infrastructure Fund

ClearBridge Energy MLP Total Return Fund Inc

Destra Multi-Alternative Fund

DNP Select Income Fund Inc

Blackrock ESG Capital Allocation Trust

Eagle Point Credit

Eagle Point Credit Company Inc - 6.6875% NT REDEEM 30/04/2028 USD 25

Eaton Vance Enhanced Equity Income Fund II

Aberdeen Global Income Fund

First Trust Dynamic Europe Equity Income Fund

FS Credit Opportunities Corp

GDL Fund

Gabelli Multimedia Trust

Guggenheim Strategic Opportunities Fund

Gabelli Utility Trust

Highland Income Fund

Highland Global Credit Allocation Fund.

Voya Global Advantage and Premium Opportunity Fund

Voya Global Equity Dividend and Premium Opportunity Fund

CBRE Global Real Estate Income Fund

Discounts/premiums are one of the most important metrics for CEFs that can provide opportunities for investors. Closed-end funds often see expanded discounts during volatile years, which we experienced in 2022.

Closed-End Fund: April 2023 Check On Valuation

DMO is invested in mortgages, both residential and commercial MBS, as well as other mortgage-related debt securities. With all the uncertainty, a wider discount could be appropriate as credit risks become a real issue.

DMO: Deeper Discount, But Risks Also Increase

John Hancock Investors Trust

John Hancock Income Securities Trust

Virtus AllianzGI Convertible & Income Fund

Virtus AllianzGI Convertible & Income Fund II

We review CEF market valuation and performance through the second week of March and highlight recent market action. CEFs mostly struggled, outside of the higher-quality sectors as two bank failures spooked markets.

CEF Weekly Review: More Of The Same On The Distribution Front

Angel Oak Financial Strategies Income Term Trust

KKR Income Opportunities Fund

We review CEF market valuation and performance through the third week of January and highlight recent market action. CEFs had another strong week with most sectors seeing both NAV gains and discount tightening.

CEF Weekly Review: Wide Discounts Make Rights Offerings Necessary

ClearBridge Energy MLP Fund Inc

ClearBridge Energy MLP Opportunity Fund Inc

NEW YORK--( BUSINESS WIRE )--The following Funds announced today their share repurchase activity during the fourth quarter of 2022.

Franklin Templeton Closed-End Funds Announce Share Repurchases for the Fourth Quarter of 2022

Aberdeen Income Credit Strategies Fund

Alpine Global Dynamic Dividend Fund

Aberdeen Standard Global Infr Inc Fd

BlackRock Resources & Commodities Strategy Trust

Cornerstone Strategic Value Fund Inc

Doubleline Opportunistic Credit Fund

Delaware Investments Dividend and Income Fund

Delaware Enhanced Global Dividend & Income Fund

Dreyfus Municipal Bond Infrastructure Fund

Eagle Point Income Company Inc

Eaton Vance National Municipal Opportunities Trust

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

Eaton Vance Tax-Advantaged Bond & Opportunity Stategies Fund

First Trust / Aberdeen Emerging Opportunity Fund

Eagle Capital Growth Fund Inc

Gabelli Healthcare & Wellness Trust

Ivy High Income Opportunities Fund

Nuveen Core Equity Alpha Fund

Macquarie Global Infrastructure Total Return Fund Inc

Nuveen California Select Tax-Free Income Portfolio

OFS Credit Company Inc

2 out of 23 CEF sectors were positive on price and 2 out of 23 sectors were positive on NAV last week. VFL offers tender results.

Weekly Closed-End Fund Roundup: VFL Tender Results (December 18, 2022)

DMO was a fund brought up recently that has interested me in the past, but one that I've never covered. Over the long-term, this is the best-performing mortgage fund, but other timeframes reflect mixed results.

DMO: Strong Long-Term Results, But Mixed More Recently

Western Asset Mortgage Opportunity Fund Inc. (DMO) is a closed end fund focused on mortgages. Unlike some of its peers in the space, DMO takes on significant credit risk through its holdings.

DMO: Not Your Usual Mortgage Fund, 11% Yield

Blackstone Strategic Credit Fund

Blackstone Long-Short Credit Income Fund

MFS High Yield Municipal Trust

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust

PGIM Global High Yield Fund

We review closed-end fund market valuation and performance through the third week of December and highlight recent market action. CEFs were mixed this week; however, discounts have continued to widen, extending a recent trend.

CEF Weekly Review: Ignore Yield-On-Cost Outside Of Tax Considerations

Western Asset/Claymore Inflation-Linked Securities & Income Fund

Western Asset/Claymore Inflation-Linked Opportunities & Income Fund

We review closed-end fund market valuation and performance through the first week of December and highlight recent market action. CEFs had a strong week, with all sectors seeing positive total NAV returns.

CEF Weekly Review: Factors Behind Higher CEF Yields This Year

NEW YORK--( BUSINESS WIRE )--Western Asset Mortgage Opportunity Fund Inc. (NYSE: DMO) today announced the financial position of the Fund as of September 30, 2022.

Western Asset Mortgage Opportunity Fund Inc. Announces Financial Position as of September 30, 2022

We review CEF market valuation and performance through the second week of November and highlight recent market action. CEFs had a strong week with all sectors finishing in the green on the back of a downside inflation surprise.

CEF Weekly Review: Can We Expect CEF Prices To Come Back?

Brandywine Global Income Opportunities Fund Inc

Western Asset Global High Income Fund

Western Asset Emerging Markets Debt Fund

Western Asset High Income Opportunity Fund Inc

Western Asset High Income Fund

Western Asset High Yield Defined Opportunity Fund Inc

Western Asset Investment Grade Defined Opportunity Trust

Western Asset Municipal High Income Fund

Western Asset Municipal Partners Fund Inc

Western Asset

The Board of each Fund announced today the appointment of Eileen Kamerick as Lead Independent Director, effective November 8, 2022. Ms. Kamerick replaces William Hutchinson, the former Lead Independent Director of the Funds, who recently passed away. The Boards also announced that Nisha Kumar will succeed Ms. Kamerick as Chair of each Fund's Audit Committee.

Certain Closed End Funds Advised by Legg Mason Partners Fund Advisor, LLC Announce Appointment of New Lead Independent Director

Flaherty & Crumrine Dynamic Preferred & Income Fund

Flaherty & Crumrine Preferred Securities Income Fund Inc

Flaherty & Crumrine Total Return Fund Inc

Flaherty & Crumrine Preferred Income Fund Inc

Flaherty & Crumrine Preferred Income OpportunityFund Inc

Cohen & Steers Tax-Adv Pref Secs and Inc Fund

Invesco Senior Income Trust

We review CEF market valuation and performance through the last week of September and highlight recent market action. September was the worst month for CEFs since March of 2020, with a double-digit drop for the broader CEF space.

CEF Weekly Review: Rising Leverage Costs Remain A Headwind For Some Funds

Ares Dynamic Credit Allocation Fund

Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.

Nuveen Select Maturity Municipal Fund

XAI Octagon Floating Rate & Alternative Income Term Trust

The market environment of high volatility and rising short-term rates has lowered the income-generating capacity of most CEFs. In this article, we highlight the five types of CEFs whose incomes have either been unaffected or have actually improved this year.

These 5 CEF Types Are Less Vulnerable To The Spike In Short-Term Rates

The price action in the CEF market has been brutal over the month of September. We highlight some of the broader CEF market indicators to place the current drawdown in context.

CEF Market Update: Where Things Stand In This Drawdown

Apollo Senior Floating Rate Fund

Apollo Tactical Income Fund, Inc.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

We review CEF market valuation and performance through the third week of September and highlight recent market action. CEFs had a tough week due to an upside surprise in inflation which pushed nearly all assets lower.

CEF Weekly Review: Why Rising Leverage Costs Are Not To Blame For Low Returns

Golub Capital BDC

Janus Detroit Street Trust-Janus Henderson B-BBB CLO ETF

SPDR Bloomberg High Yield Bond ETF

The income market has gyrated widely this year in response to changing market conditions and Fed's stance. We discuss why we didn't chase the June-August rally and why we are now seeing value reemerge in this latest bout of weakness.

Income Opportunities Come Back In The Triple Dip

News for Western Asset Mortgage Opportunity Fund ETF (DMO)