Pimco Global Stockplus & Income Fund

PIMCO Global StocksPLUS Income Fund is a closed-end investment fund. Its investment objective is to seek total return comprised of current income, current gains, and long-term capital appreciation. The company was founded on May 31, 2005 and is headquartered in New York, NY.

PIMCO Access Income Fund

Pimco California Municipal Income Fund II

PCM Fund

PIMCO Corporate & Income Strategy Fund

Pimco California Municipal Income Fund

PIMCO Dynamic Income Fund

PIMCO Dynamic Income Opportunities Fund

PIMCO Dynamic Income Strategy Fund

PIMCO Income Strategy Fund

PIMCO Income Strategy Fund II

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 Corporate & Income Opportunity Fund

Pimco New York Municipal Income Fund III

Pimco California Municipal Income Fund III

PIMCO Strategic Income Fund Inc

NEW YORK, Dec. 02, 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 January 2, 2025 to shareholders of record on December 12, 2024, with an ex-dividend date of December 12, 2024.

PIMCO Closed-End Funds Declare Monthly Common Share Distributions

Nuveen Quality Municipal Income Fund

We take a look at the PIMCO CEFs coverage, valuation, and performance. Distribution coverage for PIMCO's Muni CEFs has surged, coinciding to the retirement of auction-rate preferreds, but the increase is too high. Taxable CEFs' distribution coverage has declined, with only PDO maintaining over 100% coverage, while the rest average just above 71%.

PIMCO CEF Update: Muni Coverage And The Premium Mystery

PIMCO Global StocksPLUS & Income Fund (PGP) has performed well since our last update but underperformed GLO in this period. PGP utilizes a multi-sector fixed-income fund approach and then takes it a step further with derivatives for equity exposure. PGP offers an attractive distribution rate paid monthly, with distribution coverage improving in the latest report.

PGP: Premium Comes Down, Making It A More Interesting Idea

We take a look at coverage and performance metrics of the PIMCO CEF suite. We also discuss portfolio changes in the previous shareholder report. Average taxable was mostly flat in April save for PDO, while tax-exempt coverage continued to grow. We highlight significant changes in taxable fund portfolios in the last shareholder report, including a shift to reduce credit and floating-rate assets.

PIMCO CEF Update: Coverage Rebound Mirage And A Portfolio Reshuffle

Saba Closed-End Funds ETF

Deutsche Strategic Municipal Income Trust

Nuveen Build America Bond Fund

Flaherty & Crumrine Preferred Income OpportunityFund Inc

Saba Capital Income & Opportunities Fund II

We take a look at the shape of the current CEF sell-off. The sell-off has followed a similar pattern to previous instances, with equity funds falling more than fixed-income funds, leveraged funds underperforming and discounts widening. Longer-duration assets may become more compelling as longer-term rates rise, and investors should consider adding them to their portfolios.

Dissecting The Current CEF Sell-Off And Opportunities

PIMCO Global StocksPLUS & Income Fund (PGP) features a hybrid equity/credit strategy, employing the StocksPLUS approach pioneered by PIMCO. The fund's portfolio consists of a mix of equity, credit, and risk-free assets. PGP trades at a discount and offers an attractive profile for investors seeking an all-market investment vehicle.

PGP: An 11.5%-Yielding One-Stop Shop Portfolio Now At An Approachable Valuation

We take a look at a number of coverage, leverage, and performance metrics of the PIMCO CEF suite.

PIMCO CEF Update: PDX Allocation Starts To Move

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

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

PIMCO Global StocksPLUS and Income Fund has underperformed in the last decade, with its share price down 65% and total return down 4.52%, despite its goal of generating an 8-10% dividend yield. The fund has a history of cutting dividends, with the current yield to original cost for investors who bought the stock a decade ago at only 3.75%, and real yield against original cost below 2% after accounting for inflation. PIMCO's other funds seem to perform much better than this one, for example PTY and PDI.

PGP's High Yield Doesn't Offer Much Value

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

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

Gabelli Utility Trust

What could go wrong with a fund near an all-time high 105% market price premium combined with a near all-time low NAV? Shareholders of the Gabelli Utility Trust may think they own a safe utility stock fund offering a very attractive 8.4% current market yield, but that couldn't be further from the truth.

Potentially The Greatest Swap Idea In CEF History: Sell GUT, Buy PGP

Clough Global Opportunities Fund

GLO was a fund I wasn't excited about throughout most of 2022, instead mentioned that PGP could be a better idea. In 2023, the outlook looks different, with GLO presenting a potential opportunity.

GLO And PGP: The Results

Virtus Artificial Intelligence & Technology Opportunities Fund

ARK Innovation ETF

BlackRock Innovation & Growth Trust

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund

Eaton Vance Tax-Advantaged Bond & Opportunity Stategies Fund

Gabelli Dividend & Income Trust

abrdn Healthcare Investors 

abrdn Life Sciences Investors 

Voya Asia Pacific High Dividend Equity Income Fund

Voya Global Advantage and Premium Opportunity Fund

iShares Russell 1000 Growth ETF

NXG NextGen Infrastructure Income Fund

Invesco QQQ

SPDR S&P 500 ETF Trust

2022 was a year to forget, while most believe 2023 will begin with the same issues that took the equity and bond markets well into bear market territory last year. That is, a hawkish Federal Reserve that doesn't want to let up on strangling inflation into submission while draining market liquidity.

Equity CEFs: Top Picks For 2023

Blackstone Strategic Credit Fund

Blackstone Long-Short Credit Income Fund

Blackstone/GSO Senior Floating Rate Term Fund

BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund Inc

Flaherty & Crumrine Dynamic Preferred & Income Fund

BNY Mellon High Yield Strategies Fund 

DoubleLine Yield Opportunities Fund

DoubleLine Income Solutions Fund

Western Asset Global High Income Fund

Flaherty & Crumrine Total Return Fund Inc

Highland Income Fund

Western Asset High Income Opportunity Fund Inc

Western Asset High Income Fund

Pioneer Diversified High Income Trust

John Hancock Preferred Income Fund

Nuveen Preferred & Income Securities Fund

Nuveen Real Asset Income & Growth Fund

Oxford Lane Capital

Principal Real Estate Income Fund

Pioneer Floating Rate Trust

Pioneer High Income Trust

RiverNorth Capital and Income Fund

Franklin Templeton Emerging Markets Income Fund

XAI Octagon Floating Rate & Alternative Income Term Trust

Only funds with yields over 6.5%, coverage higher than 85%, and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

The 'High-High-Low' Closed-End Fund Report, August 2022

GLO often gets most investors excited due to its 10% managed distribution policy. Due to weakness across the board, GLO and PGP have both shown poor YTD performance, but PGP has declined less.

GLO And PGP: PGP Might Be The Better Flexible Fund At This Time

ArrowMark Financial

Blackrock California Muni Income Trust

Barings Global Short Duration High Yield Fund

Eaton Vance California Municipal Income Trust

MFS High Yield Municipal Trust

Doubleline Opportunistic Credit Fund

Eaton Vance New York Municipal Bond Fund

First Trust Dynamic Europe Equity Income Fund

First Trust Intermediate Duration Preferred & Income Fund

New American High Income Fund

Invesco High Income 2023 Target Term Fund

Ivy High Income Opportunities Fund

Nuveen Preferred & Income Opportunities Fund

Nuveen Preferred & Income Term Fund

Nuveen Ohio Quality Municipal Income Fund

Cushing MLP & Infrastructure Total Return Fund

Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given. Top DxYxZ funds are EHI, JPI and WEA.

Quality Closed-End Fund Report, February 2022

PGP's managers have done a terrific job earning an annualized 15% per annum on this PIMCO fund's net assets over the past 10 years. But that's little consolation to investors who've lost their shirts because they bought it four or five years ago at nosebleed-level premiums of 60 and 70%.

'The Best Of Times, And The Worst Of Times' For PIMCO Global StocksPLUS & Income Fund

Hybrid CEFs have generated very strong returns over the past year due to a strong rally in both equities and fixed-income - the two asset class holdings of this sector.

PGP: Clearing Up Some Misconceptions About This Hybrid CEF

PGP is at a much better valuation than where it had been a couple of years ago. The distribution rate is attractive and, better yet, seems sustainable with a NAV distribution yield of 7.72%.

PGP: Value Emerges From This Interesting PIMCO Fund

Pimco Income Opportunity Fund

We take a look at PIMCO CEF leverage and coverage numbers from April. Taxable funds saw strong growth in leverage, though it's not clear exactly why as underlying credit valuations remain historically expensive.

April PIMCO Update: Warp Speed

PGP was a notorious CEF from PIMCO, historically trading at a sky-high valuation until it crashed. After its valuation came back down to earth, the fund actually became a relatively good value. Since then, it has performed very well, and its NAV rise has contained its premium.

PGP: Surprisingly, This Fund Still Offers Value

News for Pimco Global Stockplus & Income Fund ETF (PGP)