"A rare sight emerged in May: A pair of PIMCO CEFs began to appear undervalued as shares started to trade closer to their respective NAVs. PIMCO Corporate & Income Opportunity (PTY) and PIMCO Strategic Income (RCS) both look attractive on a three-year and one-year basis as of June 8. PIMCO Corporate & Income Opportunity has traded at an average premium of 16% during the past three years, and PIMCO Strategic Income has traded at an average premium of 15% during that time. Both traded at premiums of less than 3% as of June 8, despite each beating more than 90% of peers year to date through the end of May."
I agree osu, this is a gift from Gross, Old Mutual, and any panicked sellers. I think the big boys and sharp traders have figured this out. I guess it is a little disconcerting to see the high volume and sharp drop in the PTY fund price.
"Lowest price since inception."?? On February 1, 2009, it hit $7.49. I don't know what you are referring to. I am happing with a 10-11% yield if divi holds.
Agree...PTY can be a quiet money maker for those experienced traders. Great yield with capital appreciation for the patient traders.