PCM Fund

PCM Fund, Inc. is a closed-end investment fund. It seeks to achieve current income by investing in a portfolio comprised primarily of commercial mortgage backed securities. The firm's secondary investment objective is to get capital gains from the disposition of investment. The company was founded on September 2, 1993 and is headquartered in New York, NY.

PIMCO Access Income Fund

PIMCO Corporate & Income Strategy Fund

PIMCO Dynamic Income Opportunities Fund

PIMCO Dynamic Income Strategy Fund

PIMCO Income Strategy Fund

PIMCO Income Strategy Fund II

PIMCO Corporate & Income Opportunity Fund

Coverage for PIMCO CEFs has improved for muni funds but fell slightly for taxable funds.

PIMCO CEF Update: Performance Reversal And New Swap Shenanigans

Pimco California Municipal Income Fund II

Pimco California Municipal Income Fund

PIMCO Dynamic Income Fund

Pimco Global Stockplus & Income Fund

Pimco High Income Fund

Pimco Municipal Income Fund

Pimco Municipal Income Fund II

Pimco Municipal Income Fund III

Pimco New York Municipal Income Fund

Pimco New York Municipal Income Fund II

Pimco New York Municipal Income Fund III

Pimco California Municipal Income Fund III

PIMCO Strategic Income Fund Inc

NEW YORK, March 01, 2024 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable on April 1, 2024 to shareholders of record on March 11, 2024, with an ex-dividend date of March 8, 2024.

Pimco Closed-End Funds Declare Monthly Common Share Distributions

Aberdeen Income Credit Strategies Fund

KKR Income Opportunities Fund

We provide an update for the PIMCO CEF suite. Coverage for PIMCO CEFs saw marginal declines for Muni funds and remained nearly flat for taxable funds. Borrowing and leverage levels remained fairly steady.

PIMCO CEF Update: PIMCO Struggled To Outperform Last Year

SPDR Bloomberg High Yield Bond ETF

We provide a November update for the PIMCO CEF taxable suite. Coverage across PIMCO's tax-exempt funds increased slightly in November, while coverage for taxable funds decreased by around 10% on average. PIMCO appears to have taken advantage of the swoon in credit prices in September and October.

PIMCO CEF Update: PIMCO Trades The October Swoon

NEW YORK, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable on December 1, 2023 to shareholders of record on November 13, 2023, with an ex-dividend date of November 10, 2023.

PIMCO Closed-End Funds Declare Monthly Common Share Distributions

We provide an August update for the PIMCO CEF taxable suite. Coverage remained steady at nearly 70% on average for taxable funds. Borrowings ticked higher but remain in a six-month range.

PIMCO CEF Update: Key Tidbits From The Shareholder Report

NEW YORK, Sept. 01, 2023 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable on October 2, 2023 to shareholders of record on September 11, 2023, with an ex-dividend date of September 8, 2023.

PIMCO Closed-End Funds Declare Monthly Common Share Distributions

Western Asset Mortgage Opportunity Fund

Nuveen Mortgage Opportunity Term 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

PIMCO Multi Sector Bond Active ETF

We provide a June update for the PIMCO CEF taxable suite. The SEC fined PIMCO $6.5m for inadequate disclosure of its paired swap strategy. Coverage turned back down for taxable funds to close out the fiscal year.

PIMCO CEF Update: SEC Goes After PIMCO For Paired Swaps

FS Credit Opportunities Corp

John Hancock Premium Dividend Fund

6 out of 22 CEF sectors positive on price and 3 out of 22 sectors positive on NAV last week. PDT reduces distribution by 15%, FSCO boosts distribution by 15%. Some CEFs getting bubbly.

Weekly Closed-End Fund Roundup: PDT Cuts, FSCO Boosts, Some CEFs Getting Bubbly (July 9, 2023)

NEW YORK, July 03, 2023 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable on August 1, 2023 to shareholders of record on July 13, 2023, with an ex-dividend date of July 12, 2023.

PIMCO Closed-End Funds Declare Monthly Common Share Distributions

PIMCO CEF Update: What's Ailing PDI?

Credit Suisse Asset Management Income Fund

Credit Suisse High Yield Bond Fund

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

Cohen & Steers Tax-Adv Pref Secs and Inc Fund

Recent market volatility has opened up valuation divergences between very similar CEFs, creating opportunities for switches or outright holds. This offers income investors an opportunity to pick up additional yield, adopt a more defensive stance, and generate alpha in their portfolios.

Market Volatility Opens Up More CEF Relative Value Opportunities

We provide a February update for the PIMCO CEF taxable suite. Taxable CEFs continued to deleverage despite NAVs largely holding steady through February, possibly as a result of a low level of net income generated by leveraged assets.

PIMCO CEF Update: Bad But Not As Bad As It Looks

We provide a December update for the PIMCO CEF taxable suite. Most funds deleveraged further while PDO added borrowings.

PIMCO CEF Update: Deleveraging And Swaps Take A Toll On Income

Alpine Global Dynamic Dividend Fund

Aberdeen Standard Global Infr Inc Fd

BlackRock Science & Technology

BlackRock Utilities Infrastructure & Power Opportunities Trust

Delaware Investments Dividend and Income Fund

Delaware Enhanced Global Dividend & Income Fund

DoubleLine Income Solutions Fund

Stone Harbor Emerging Markets Income Fund

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

Eaton Vance Tax-Advantaged Bond & Opportunity Stategies Fund

First Trust / Aberdeen Emerging Opportunity Fund

Cohen & Steers Closed-End Opportunity Fund

Gabelli Multimedia Trust

Gabelli Utility 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

21 out of 22 CEF sectors were positive on price and 20 out of 22 sectors were positive on NAV last week. MLPs are the most discounted CEF sector.

Weekly Closed-End Fund Roundup: January 8, 2023

BlackRock Resources & Commodities Strategy Trust

Cornerstone Strategic Value Fund Inc

Doubleline Opportunistic Credit Fund

Dreyfus Municipal Bond Infrastructure Fund

Eagle Point Income Company Inc

Eaton Vance National Municipal Opportunities Trust

Eagle Capital Growth Fund Inc

Gabelli Healthcare & Wellness Trust

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)

PCM is a fixed income CEF from Pimco. The fund is highly leveraged and is overweight mortgages.

PCM: Back To Being Extremely Expensive

Blackrock Health Sciences Trust

Cornerstone Total Return Fund Inc

Eaton Vance Enhanced Equity Income Fund

John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund

New American High Income Fund

BlackRock Corporate High Yield Fund

John Hancock Investors Trust

Virtus AllianzGI Convertible & Income Fund

Virtus AllianzGI Convertible & Income Fund II

Tortoise Energy Independence Fund, Inc.

Nuveen Missouri Quality Municipal Income Fund

Tortoise MLP Fund

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Oxford Lane Capital

RiverNorth Opportunities Fund, Inc.

Tortoise Power and Energy Infrastructure Fund

Tortoise Pipeline & Energy Fund

Tortoise Energy Infrastructure

Virtus Total Return Fund

12 out of 23 CEF sectors positive on price and 6 out of 23 sectors positive on NAV last week. Tortoise offer tender results.

Weekly Closed-End Fund Roundup: Tortoise Tender Results, NCZ Resumes Distributions (November 6, 2022)

The PCM Fund is a fixed income CEF from the Pimco suite. The vehicle has historically traded at very high premiums to NAV, which constantly exceeded 10%.

PCM: Niche Fund From Pimco, 12% Yield

PCM has caught my attention recently because it is now the most expensive non-muni CEF offered by PIMCO. This is unusual for this fund, and tells me caution should be exercised before buying in at these levels.

PCM: Attractive Holdings, Unattractive Price

Apollo Tactical Income Fund, Inc.

Ares Dynamic Credit Allocation Fund

GDL Fund

Dreyfus Strategic Municipals Inc

Nuveen Quality Municipal Income Fund

Nuveen Municipal Credit Income Fund

Cohen & Steers Reit And Preferred Income Fund Inc

Vertical Capital Income Fund.

We review CEF market valuation and performance through the last week of March and highlight recent market action.

CEF Weekly Review: Rates Are Up, Why Are My Loan CEFs Down

BlackRock 2022 Global Income Opportunity Trust

Wells Fargo Income Opportunities Fund

Pioneer Municipal High Income Advantage Trust

BlackRock MuniHoldings Fund

Nuveen Municipal High Income Opportunity Fund

Principal Real Estate Income Fund

Stocks finished the week up nicely with the S&P 500 up nearly 1% and the Nasdaq up just over 1%, for all new record highs.

YH Weekly Commentary Peak

Barings Global Short Duration High Yield Fund

Blackrock Limited Duration Income Trust

Wells Fargo Multi-Sector Income Fund

Eaton Vance Short Duration Diversified Income Fund

Eaton Vance Limited Duration Income Fund

Franklin Limited Duration Income Trust

SPDR Bloomberg Short Term High Yield Bond ETF

We take a look at the Limited Duration CEF sector which offers one way for income investors to shorten up on their interest rate sensitivity. Investors seeking a higher income level as well as tactical investors on the lookout for cheaper discount valuations should consider BGH.

Limited Duration CEF Sector Update

PIMCO Dynamic Credit and Mortgage Income Fund

Pimco Income Opportunity Fund

The most recent UNII report showed continued deterioration in the coverage ratios and UNII values of the taxable funds.

PIMCO Update: Starting To Get Nervous And Taking Action

News for PCM Fund ETF (PCM)