PFN: Buying A Quality Fund During Market Sell-Offs [Seeking Alpha]
PIMCO Income Strategy Fund II (PFN)
US:NYSE Investor Relations:
pimco.com/en-us/investments/closed-end-funds/income-strategy-fund-ii
Company Research
Source: Seeking Alpha
Main Thesis The purpose of this article is to evaluate the PIMCO Income Strategy Fund II ( PFN For support, consider that while PFN still trades at a premium price, it is quite modest and towards the bottom of the pack for PIMCO CEFs. Further, this premium is well below the fund's normal trading range. While I have concerns with the fund's income production, I see the fund withstanding any potential income cut down the line. With a current yield above 9%, the income offered will remain very attractive even if we see a marked drop in its payout. Finally, mortgage debt remains one of my preferred asset classes going forward, and PFN holds about a quarter of its assets in that space. While I see challenges for the sector, I believe it remains a compelling hedge against equity volatility. Background First, a little about PFN. The fund's objective Source: With 2020 underway, and the past week giving us quite a bit of market volatility, I wanted to reassess PFN to see if I should change my
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PFN
Sec Filings
- 9/23/24 - Form N-CSR/A
- 9/12/24 - Form N-CEN
- 9/4/24 - Form N-CSR
- PFN's page on the SEC website