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BTT: Why the Low Yield?

The BlackRock Municipal 2030 Target Term Trust (BTT) stands out in the sector for its puny yield of 2.98% despite boasting a healthy 35% leverage, very low fee of 0.40%, …

FINS. What’s The Point?

The Angel Oak Financial Strategies Income Term Trust (FINS) may have caught the eye of income investors due to its attractive yield, wide discount and higher-quality profile. Who doesn’t like …

PHK: The Little Fund That Could

Few people would call the PIMCO High Income Fund (PHK) “little” given its $1bn of total managed assets. However, it’s little in one regard – it runs at one of …

PFD: It’s a Mad Mad Mad World

The Flaherty And Crumrine Preferred Income Fund (PFD) has skyrocketed to a 29% premium – the second highest in the CEF space. It’s just truly truly bizarre especially when there …

UTG: Nope, still not a quality fund

Some may say CEF quality is in the eye of the beholder but they would be wrong. A fund that underperforms a straight-up dumb passive ETF (XLU) over various time …

PIM: Say It Ain’t So Mr. Putnam

Holders of the Putnam Master Intermediate Income Trust (PIM) did not have a great week as the fund cut its distribution by nearly a quarter. The fund has what it …

TEAF: If It Were This Easy Every Time

We are always on the lookout for opportunities that offer attractive and asymmetric risk/reward. On our service we highlighted TEAF as a baby-with-the-bathwater type of CEF which was unfairly trading …

EIC: Why So Flat?

The Eagle Point Income Company (EIC) is an unusual CEF that allocates to junior mezz CLO tranches. It is also one of the few CEFs that doesn’t provide daily NAVs. …

PTY: Hardest Working Fund In The Biz

The PIMCO Corporate & Income Opportunity Fund (PTY) has a loyal following owing to its not having cut distributions in over a decade. There is some reason why this is …

PCI: Tough Breaks

The PIMCO taxable CEFs are the rockstars of the income world. However, it’s important to recognize that there are some nuances that investors need to be aware of. First, let’s …