PCI sells at a 7% discount to it's NAV (true market value) while PHK sells at a 51% premium to it's NAV, yet PCI rarely goes up while PHK goes up every day? I happen to own both funds.
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Thanks Dan for the post. I am new to PCI can you give your input for the long term holding on PCI, considering rate high will be happening at some point.
I hope you're right because usually any bounce in PCI doesn't last long.
Bill Gross position, probably attracting yield seekers today w volume way up. this has lagged the recovery in other cef's this year, w strong yield, positive UNII etc. could get over 20 again.
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Looks like there is insider buying and institutional interest growing in PCI. The dividend rate looks promising, especially since oil prices are going up and it reduces the risk of oil companies going bankrupt.
I should clarify. Yahoo includes the payout of the old and new rate during the 12 months. While you have it calculated on just the new rate for 12 months.
The Yahoo one probably includes payments through the 12 months that included the new rate of payout. You calculated on the new payout.
in with 6k shares in my ira losing alot as paid in 1820s 5 months ago or so. made alot on nuveen tax frees federal and state of ny now they overbought keeping pci until they put your slate in charge
since this posting rif and bif are up over 10%, pci is up 3%--yes, I did not get the high on my last bunch of pci sells (although most of my sells were is the 17.20-40 range), and I did sell this last investment at a loss, but the money was reinvested in funds which far outperformed pci after i sold it.
I still believe while pci isnt overpriced at its current 17.24 price, there are other better choices, and if you invest in pension plan/ira there are no tax consequences on sales.