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Pimco Corporate & Income Strate Message Board

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  • duckislandcove duckislandcove Dec 13, 2010 12:14 PM Flag

    why is this down so much

    There are a few reasons:...this fund has for the most part always sold at a premium to NAV...as much as 15% over NAV...once this fund hit the 16s...it was making new highs since it's inception and people saw a chance to make capital gains and took them....looking at the charts there looks like support will be in the $14 range with a low support of about $13.75...if it does not break that, it is an opportunity to buy more...if it breaks, you may want to consider selling and reduce any further downside...Currently, it has a NAV at 14.99 and is selling at a slight discount which is normal for these kinds of funds...Remember, all the talking heads are saying to sell bonds and get into equities instead ...some due to fear of upcoming inflation, others thinking that the market has more to go from here and they don't want to miss the train....Here are some positive points on this fund...It has for the most part always traded at a premium due to an excellent bond manager...Bill Gross, next, this fund has a low leverage of about 23%, and finally, when all the funds were being hammered down in price, most cut their dividends down going forward since the melt down in 2008..this fund did not cut it's dividend...something to think about...I am retired and am holding this for income purposes and I am not planning on selling this fund in any short term...Just my opinion...

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