BGX: Distribution Cuts Likely To Continue, Dump This Fund [Seeking Alpha]
Blackstone Long Short Credit Income Fund Common Shares (BGX)
US:NYSE Investor Relations:
blackstone.com/the-firm/asset-management/registered-funds
Company Research
Source: Seeking Alpha
Power Hedge Investing Group Leader Follow Summary The Blackstone Long-Short Credit Income Fund offers a 9.57% yield, but this is lower than its peers due to recent distribution cuts. BGX's focus on floating-rate senior loans means it won't benefit from interest rate cuts but will suffer a declining income going forward. The market expects 6 25-basis points of cuts before the end of next year, so we can expect several distribution cuts. The fund's leverage and current valuation are reasonable, as is its distribution coverage. Given the Federal Reserve's dovish stance, it's advisable to sell the fund, as declining income and potential inflation resurgence make it unattractive. Looking for a helping hand in the market? Members of Energy Profits in Dividends get exclusive ideas and guidance to navigate any climate. Learn More » alfexe The Blackstone Long-Short Credit Income Fund NYSE: BGX ) is a closed-end fund that offers a reasonably attractive way for investors t
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Sec Filings
- 11/29/24 - Form NPORT-P
- 11/22/24 - Form 3
- 11/22/24 - Form 3
- BGX's page on the SEC website