Its a high yield closed end fund. Despite the fact that they said that they would post their month end holdings on their web site, I do not see them. Gotta wonder what they got caught holding. It started tanking in early sept and has just kept on going down.
Yeah, I've owned some Pimco ones off and on like PTY. They've been dropping across the board. Some computer program out there used by all the program traders finally concluded that an inverted yield curve was bad for leverage.