Pimco New York Municipal Income Fund II

PIMCO New York Municipal Income Fund II operates as a non-diversified and closed-end management investment company. It intends to provide current income exempt from federal, New York State and New York City income tax. The company was founded on March 29, 2002 and is headquartered in New York, NY.

Pimco California Municipal Income Fund II

Pimco California Municipal 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 III

Pimco California Municipal Income Fund III

PIMCO California muni funds teach a lesson on CEF valuation. The most expensive fund declined by the most after the cut.

PIMCO California Muni CEFs Teach A Lesson On Valuation

PIMCO Access Income Fund

PCM Fund

PIMCO Corporate & Income Strategy Fund

PIMCO Dynamic Income Fund

PIMCO Dynamic Income Opportunities Fund

PIMCO Income Strategy Fund

PIMCO Income Strategy Fund II

Pimco Global Stockplus & Income Fund

Pimco High Income Fund

PIMCO Corporate & Income Opportunity Fund

PIMCO Strategic Income Fund Inc

NEW YORK, Sept. 01, 2022 (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 3, 2022 to shareholders of record on September 12, 2022, with an ex-dividend date of September 9, 2022.

PIMCO Closed-End Funds Declare Monthly Common Share Distributions

Flaherty & Crumrine Dynamic Preferred & Income Fund

Blackrock Debt Strategies Fund Inc

Flaherty & Crumrine Total Return Fund Inc

Blackrock Floating Rate Income Strategies Fund Inc

John Hancock Preferred Income Fund

Recent market volatility has opened up discount valuation divergences between very similar CEFs.

Pick Up Yield In These CEF Relative Value Switches

Blackrock Investment Quality Municipal Trust

BlackRock Municipal 2030 Target Term Trust

Dreyfus Municipal Bond Infrastructure Fund

Dreyfus Strategic Municipal Bond Fund Inc

Eaton Vance Municipal Income 2028 Term Trust

Federated Premier Municipal Income Fund

Pioneer Municipal High Income Advantage Trust

Western Asset Municipal High Income Fund

BlackRock MuniAssets Fund

BlackRock MuniYield Quality Fund III Inc

BlackRock MuniYield New York Quality Fund Inc

Neuberger Berman Intermediate Municipal Fund Inc

Nuveen Enhanced Municipal Value Fund

Nuveen Georgia Quality Municipal Income Fund

Nuveen Municipal Credit Opportunities Fund

Nuveen Municipal High Income Opportunity Fund

Nuveen Municipal Value Fund Inc

Nuveen New Jersey Quality Municipal Income Fund

Nuveen Select Tax-Free Income Portfolio 3

Invesco Municipal Income Opportunities Trust

Invesco Pennsylvania Value Municipal Income Trust

The muni CEF space is largely buy-and-hold (or long-term rental agreements). But right now, there's a lot of dislocation in the sector. Some funds are extremely expensive while others are relatively cheap. Making swaps makes sense to rotate into the better opportunities and see more discount closing tailwinds.

More Relative Value Trades And Opportunities: Munis

The disparity among PIMCO tax-exempt muni CEFs remains large. Apart from lower income yields, greater susceptibility to distribution cuts and larger drawdown potential, the ongoing consolidation wave in the sector presents another risk for high-premium funds.

PIMCO Muni CEF Valuations Face Additional Risks

PIMCO Dynamic Credit and Mortgage Income Fund

The taxable PIMCO CEFs are still trading below 100% coverage thanks to the falling dollar. That could improve in January as the dollar has rebounded some. In this space, we continue to like RCS and PHK. PGP is a good S&P 500 proxy.

PIMCO CEF Suite Update: December 2020

PNI: This Fund Deserves More Love

News for Pimco New York Municipal Income Fund II ETF (PNI)