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Participant ○○○

Re: PCI on sale today


@Anitya wrote:

Check out the PIMCO CEF NAV changes.


Thanks. Yes, I see them in CEF analyzer everyday. They are down a bit but the price went up by 1.2% or something like that today. Go, figure this one.

In fact, NAV does not matter. With these low FED rates, the yield to the price is more important because that is the real one for any individual buyer.

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Valued Contributor

Re: PCI on sale today

 

Haven't read entire thread.

But I just listened to bond manager guru J. Gundlach podcast.

He was quite negative across the entire bond specter...except for leveraged FI CEFs (such as PCI and PDI).  He considered the premiums have been eliminated, the holdings reasonable, holdings  not in corporate sector, yields very good...mortgages should do OK.

Note he just had an IPO with DLY that will be competing in this space.

I have held onto PCI and PDI during downturn, and perplexed on whether or not to sell some.  This outlook is a factor.

Disclosure:  I have been heavily trimming various other bond funds I own, for a variety of reasons...see other threads.

R48

 

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Valued Contributor

Re: PCI on sale today

PCI is again at 13-14. 

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Valued Contributor

Re: PCI on sale today


@FD1001 wrote:

PCI is again at 13-14. 


Now it has to touch my limit-order at 13.50.

YBB
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Explorer ○○○

Re: PCI on sale today


@yogibearbull wrote:

@FD1001 wrote:

PCI is again at 13-14. 


Now it has to touch my limit-order at 13.50.


To SELL or to  BUY, Yogi?

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Valued Contributor

Re: PCI on sale today


@judger wrote:

@yogibearbull wrote:

@FD1001 wrote:

PCI is again at 13-14. 


Now it has to touch my limit-order at 13.50.


To SELL or to  BUY, Yogi?


To buy!

YBB
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Explorer ○

Re: PCI on sale today

Based on this

'holdings  not in corporate sector, yields very good...mortgages should do OK.'

Is it wise to transfer some PCN to PCI (PKO)?

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Participant ○○○

Re: PCI on sale today

I tried to buy at $13.75 but it didn't work. Now, I have increased to $14. Will wait and see. It is not a big buy compared to the number of shares I already hold. So, it is not a make or break.

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Explorer ○○○

Re: PCI on sale today

Yogi and Nat, are you considering buying other PIMCO CEF's? How about KIO?

 

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Valued Contributor

Re: PCI on sale today


@judger wrote:

Yogi and Nat, are you considering buying other PIMCO CEF's? How about KIO?

 


KIO is not Pimco but KKR fund. Did you mean PKO? If so, no.

I am accumulating PCI - I may have missed 13.50 but my previous fill was at 14.xx, so OK.

I am also accumulating Nuveen muni CEFs core-plus NZF, HY NMZ - there also I may have missed my last low-ball orders.

Any way, the low-ball GTC orders remain in place if there is sudden CEF selloff again.

YBB
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Participant ○○○

Re: PCI on sale today

The discount is disappearing. I had a buy order yesterday but did not make it. I knew that I will not be buying today  if there is no discount because I have enough shares in PCI. I thought of buying some KIO today but I have not placed any order. I am just watching because the discount in KIO is also disappearing. I can use the cash to pay some urgent loans also. Two balloon loans are due in two more months. My grand daughter's birthday and our 50th wedding anniversary are due in about the same time. So, I have a lot of need for cash now.

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Explorer ○○○

Re: PCI on sale today

Thank you, Yogi and Nat. Yes, I realize that KIO is not PIMCO, Yogi. I own over a dozen non-PIMCO CEF's. 

It looks like you both are trying to buy at no discount. I am just drooling over 12-13% distributions. Since I don't trade, I am looking at this as a big increase in returns on new money. That make any sense?

 

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Contributor ○○○

Re: PCI on sale today


@ECEPROF wrote:

The discount is disappearing. I had a buy order yesterday but did not make it. I knew that I will not be buying today  if there is no discount because I have enough shares in PCI. I thought of buying some KIO today but I have not placed any order. I am just watching because the discount in KIO is also disappearing. I can use the cash to pay some urgent loans also. Two balloon loans are due in two more months. My grand daughter's birthday and our 50th wedding anniversary are due in about the same time. So, I have a lot of need for cash now.


I, personally, would cancel all limit buy orders, regardless of how low ball, until I see the underlying index, XPCIX, turn the corner, stabilize, and start heading up.  There is a reason it has tanked 30% this month, and it is tied to leverage, IMO, in some way, shape, or form.  It has not had an up day this month.  I don't think anyone knows where it will bottom, nor ifn PCI will trade, going forward, at a discount or a premium.

 

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