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jojofour
Explorer ○○

what is going on, pimco and some other funds taking a beating ?

                                                                                                      jj

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jojofour
Explorer ○○

pci-pdi-pty and utf- utg .

View solution in original post

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15 Replies
outandabout
Participant ○○

Which investment are you referring?

 

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jojofour
Explorer ○○

pci-pdi-pty and utf- utg .

View solution in original post

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DJANG0
Explorer ○

Interest rates rose today, and there was some panicked selling of high yielding securities. I would suggest learning how to track NAVs as a clue to whether your gain or loss is justified or a knee jerk reaction. At Fidelity, you enter an X before and after the symbol, so PCI becomes XPCIX to track NAV. Not sure about other brokerages.

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ECEPROF
Explorer ○○○

I have a big chunk of money in PCI. It had a big run in the past two months that is not sustainable with a premium of more than 12%. I wish it comes down back to below $24.10 so that the premium is reasonable. If you are interested in the distribution, you should not worry about the CG.

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yogibearbull
Valued Contributor

For peace of mind, one can trade between leveraged CEFs and similar unleveraged OEFs.

YBB
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jojofour
Explorer ○○

thanks to all for thoughts.

                                          jj

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Sheryldell
Explorer ○○○

Would you please give several examples of trading between similar OEFs for CEFs using the above mentioned CEFs from Pimco and Cohen or others.

And also expound on the use, reasoning and return of such OEFs versus CEFs  for peace of mind, SWAN.

I still have a question 're dropping NAV (or price) and  why posters don't seem to care as long as the distribution remains constant.   PDI had a NAV drop in mid July to mid August and I found no explanation and no comment answering my previous post except one  commenter who had a similar concern to mine.

TIA

 

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jojofour
Explorer ○○

mabe yogi will chime in on this one, his post was comparing oef`s with cef`s.

                                                                                                     jj

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yogibearbull
Valued Contributor

@Sheryldell wrote:

Would you please give several examples of trading between similar OEFs for CEFs using the above mentioned CEFs from Pimco and Cohen or others.

And also expound on the use, reasoning and return of such OEFs versus CEFs  for peace of mind, SWAN.

I still have a question 're dropping NAV (or price) and  why posters don't seem to care as long as the distribution remains constant.   PDI had a NAV drop in mid July to mid August and I found no explanation and no comment answering my previous post except one  commenter who had a similar concern to mine.

TIA


PONAX/PIMIX and PCI, PDI are good Pimco OEF-CEF multisector trading pair [may replace PONAX/PIMIX with another multisector OEF].   https://stockcharts.com/h-perf/ui?s=PIMIX&compare=PCI,PDI&id=p38910817210

NMBAX and NZF, NVG are good Nuveen OEF-CEF core-plus muni trading pair.   https://stockcharts.com/h-perf/ui?s=NMBAX&compare=NVG,NZF&id=p33463321038

YBB
Lakeside7
Explorer ○○○

@Sheryldell wrote:

I still have a question 're dropping NAV (or price) and  why posters don't seem to care as long as the distribution remains constant.   PDI had a NAV drop in mid July to mid August and I found no explanation and no comment answering my previous post except one  commenter who had a similar concern to mine.

TIA

 


I think that generally speaking investors do care about a dropping NAV and try to ascertain the reason for such. As for the Pimco multi-sector taxable debt CEFs, the August NAV drops were attributed mostly to a drop in value of their Argentine debt holdings.  This occurrence was discussed on this board at the time.

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Sheryldell
Explorer ○○○

On the Argentine issue, what is the current status /outlook on Pimco's holdings?

I haven't heard anything and wondered if it has resolved to the extent that prices have recovered mostly.

PIMIX was mentioned in another thread as recovering.

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ECEPROF
Explorer ○○○

"As for the Pimco multi-sector taxable debt CEFs, the August NAV drops were attributed mostly to a drop in value of their Argentine debt holdings."

Yes, indeed. That is the time that I collected some 11,000 shares because it was a good opportunity. Yet, even at those prices around $24/share, it was at a premium. I sold some 600 shares by taking profit and used the money to buy VIG and USMV two weeks ago - a sort of rebalance, not another bond fund. If the price of PCI falls to the above level, I will move money back into PCI. However, I bought a few shares KIO with new cash because the price of PCI has a big premium.

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yogibearbull
Valued Contributor

@Sheryldell wrote:

On the Argentine issue, what is the current status /outlook on Pimco's holdings?

I haven't heard anything and wondered if it has resolved to the extent that prices have recovered mostly.

PIMIX was mentioned in another thread as recovering.


No clue about what Pimco has done with Argentina - it didn't come clean before or now with its Argentina exposure.

But the worst has happened in Argentina - its bonds are trading around 40c. The President-elect want to settle them at 70c, while the VP-elect would let them default. 

YBB
ECEPROF
Explorer ○○○

It must be Pimco's magic on PCI. Here is the link comparing the NAV and the price run in the recent months.

 

Anitya
Explorer ○○

I am not suggesting premiums do not matter, but look at the PCN premium and yield.   Currently, PCN does not yield a whole lot more than PIMIX for the extra risk.

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