Showing results for 
Search instead for 
Did you mean: 
Participant ○○

PIMCO CEF Update: It's 2008 Redux

The NAV of PCI has fallen from 22.94 on 2/28 to 15.76 on 3/24, a drop of 31%, and NAV returns have been negative for 15 days in a row since 3/4. If you are long PCI (I am), is there an NAV threshold below which you would change your mind? It is trading at a 1% premium, admittedly below the average premium of 6% over the last year.

PIMCO CEF Update | It's 2008 Redux
by Alpha Gen Capital
Seeking Alpha
Mar. 25, 2020 7:00 AM ET

The PIMCO UNII report showed some modest progress on coverage and UNII

Obviously, the traditional looks at this report are less important
given what is happening in the markets and with these funds

We expect distributions to be maintained in most of the taxable bond
CEFs from PIMCO and that the muni funds are investable for the first
time in years.

Most funds earned their distribution in the month according to NII
production with small shortfalls in the others. Nothing concerning.


0 Kudos
1 Reply
Participant ○○

Re: PIMCO CEF Update: It's 2008 Redux

Based on my experience with a Nuveen muni, PIMCO might merge a few CEFs if necessary. Better not to sell low, and instead wait for NAV and price recovery.

0 Kudos

Morningstar is here to help you respond to the Coronavirus crisis.