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Post by xray on Oct 23, 2023 21:55:33 GMT
xray, mnfish, richardsok, Broozer, steelpony10, uncleharley, Fearchar, yogibearbull, liftlock, anitya, retiredat48, chang, FCT ... WHEATON, Ill., October 23, 2023--(BUSINESS WIRE)--First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on November 15, 2023, to shareholders of record as of November 2, 2023. The ex-dividend date is expected to be November 1, 2023. The monthly distribution information for the Fund appears below. First Trust Senior Floating Rate Income Fund II (FCT): Distribution per share: $0.097 Distribution Rate based on the October 20, 2023 NAV of $11.03: 10.55% Distribution Rate based on the October 20, 2023 closing market price of $9.69: 12.01% This distribution will consist of net investment income earned by the Fund and return of capital and may also consist of net short-term realized capital gains. The final determination of the source and tax status of all 2023 distributions will be made after the end of 2023 and will be provided on Form 1099-DIV. The Fund has a practice of seeking to maintain a relatively stable, attractive monthly distribution which may be changed periodically. First Trust Advisors L.P. ("FTA") believes the practice helps maintain the Fund's competitiveness and may benefit the Fund's market price and premium/discount to the Fund's NAV. The practice has no impact on the Fund's investment strategy and may reduce the Fund's NAV. COMMENT: Each monthly dividend paid will reduce the NAV by the amount specified (each time). Tracking MktPrc's on charts won't give you the whole picture since most reporting does not include the dividend in the increased/decreased MktPrc being stated.... My data shows that FCT increased their dividend payout to $0.097 from $.0695 monthly.... Live Long and Prosper....
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Post by richardsok on Oct 23, 2023 22:12:51 GMT
Xray --
I know you'll play 'em by your own method, but I'd be a little concerned about the funds you've cited recently. I've charted every one, and of the bunch, CAPL is the only one in a bullish trajectory. A few others are in a sawtooth pattern that have mostly closed down the last couple of days, but the majority appear to be in a plug-ugly bear trajectory.
Your FCT, one of the better ones, hit resistance twice a month ago and is off 5% from the highs and falling.
Are you expecting something to change soon? How?
Not a criticism; just an observation.
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Post by xray on Oct 28, 2023 19:10:43 GMT
Updated (COB 10/28: Security ... Avg (all crashes) ....... 12/31 .... 9/9 ....... 9/23 ...... 9/23 Div% ..... 10/1 .... Last Insider Buy/Sell .... % Holding 10/22 1... GLP .................... 24.88 ................ 34.77 .... 30.99 ...... 32.76 ..... 8.20 ...... 35.32 ... 20,000sh/32.49 ........... 2% 2... LGI * .................. 15.43 ................ 16.01 .... 16.82 ...... 16.23 ...... 8.69 ..... 16.04 ... None .......................... 2% 3... FSK .................... 18.97 ................ 17.50 .... 20.63 ...... 19.83 ..... 14.20 ..... 19.69 ... 1,000sh/20.61 ............ 4% 4... RVT* .................. 14.35 ................ 14.61 .... 14.35 ...... 14.77 ....... 8.34 ..... 14.78 ... None ......................... 2% 5... RITM (NRZ) .......... 8.54 .................. 8.17 .... 10.13 ........ 9.66 ..... 10.42 ....... 9.29 ... 32,000sh/7.84 ............ 6% 6... GLO* ................... 5.68 .................. 5.81 ...... 5.75 .........5.40 ..... 12.91 ...... 5.41 .... 15,000sh/5.04 ............ 2% comment: 2022 data performance is not the same as this year as (read back older messages on both GLO/GLQ when their distributions were unsustainable and were classified as "avoid". Both CEF's lowered their distributions at the end 2022 to $0.0483/monthly and $0.0599/monthly respectively for the "YEAR" of 2023. NAV is expected to go up IMHO. Distributions are changed only once a year (November announcement). Very good for income oriented investors who buy at bargain prices and just monitor them for the 2023 year IMHO.... 7... GPP .................... 12.37 ................ 12.96 .... 13.26 ....... 15.28 ..... 12.09 ..... 14.88 ... 18,000sh/12.94 .......... 6% 8... AVK* .................. 12.26 ................ 12.31 .... 12.23 ....... 11.78 ..... 13.18 ..... 11.73 ... 375sh/11.84 ............... 2% 9...USA* ................... 5.39 .................. 5.90 ...... 6.32 ......... 5.39 ..... 10.63 ...... 6.07 .... 1,000sh/6.05 .............. 6% 10. ARCC ................. 18.62 ................. 18.47 .... 19.57 ....... 19.22 ..... 10.07 ..... 19.47 ... 15,000sh/17.84 ........... 6% 11. GLQ* .................. 7.01 ................... 7.20 ...... 7.14 ......... 6.71 ..... 12.61 ...... 6.73 .... 15,000sh/6.27 ............ 2% comment: 2022 data performance is not the same as this year as (read back older messages on both GLO/GLQ when their distributions were unsustainable and were classified as "avoid". Both CEF's lowered their distributions at the end 2022 to $0.0483/monthly and $0.0599/monthly respectively for the "YEAR" of 2023. NAV is expected to go up IMHO. Distributions are changed only once a year (November announcement). Very good for income oriented investors who buy at bargain prices and just monitor them for the 2023 year IMHO.... 12..KYN* ................... 9.75 ................. 10.06 ..... 10.17 ....... 10.22 ..... 9.68 ....... 9.95 .... Sold 1.4Mil/?? .............. 6% 13..CAPL .................. 19.72 ................. 19.83 ..... 19.48 ....... 20.48 .... 10.37 .... 21.69 .... 32,000sh/18.38 ............ 6% 14..EFC ................... xx.xx .................. xx.xx ...... xx.xx ....... xx.xx ..... 14.72 ..... xx.xx .... None .......................... 4% (new - xfr Data next month post/time constraint) 15..HGLB* ............... xx.xx .................. xx.xx ...... xx.xx ...... xx.xx ..... 14.01 ..... xx.xx .... Sold 1,400sh/9.77 ........ 2% (new - xfr Data next month post/time constraint) 16..HESM ................ xx.xx .................. xx.xx ...... xx.xx ....... xx.xx ..... 12.01 ..... xx.xx .... None ........................... 6% (new - xfr Data next month post/time constraint) 17..FCT* ................. xx.xx .................. xx.xx ...... xx.xx ....... xx.xx ..... 14.72 ..... xx.xx .... None ........................... 4% (new - xfr Data next month post/time constraint) CASH ...............................................................................................................................................................32%
* = a CEF with "ONLY NAV's shown" ** Crash #'s and 12/31 numb3rs shown are NAV changes where applicable (NAV's for CEF's). We must keep in mind that MktPrc's are behavioral reaction to the market while NAV's are "true value" numb3rs.... *** Excludes year end (EOY) payouts and any dividend/distribution changes during 2023 **** Comparisons of analytical data shows how well (or not) securities are maintaining their required 10% distributions/dividends (currently and going forward)
Note: Data reviews last 2-wk's of ending Qtr's (March/June/Sept/Dec) where Mutual funds and CEF's changing their portfolio's (normally very similar for buy/sell activity) for shareholder reviews> News items during market activity or insider buying activity is a "red Flag" to re-analyze holding. Normally carry 16 securities in portfolio for 100% with no one security greater than 6% (with buying/selling activity in 2% increments for "dollar cost averaging). Currently tracking 17 securities with 60% investment....
Comment: Market is "crashing" and MktPrc's reflect this. Buy, in controversy yjrtr is opportunity. HESM is rumored to be bought out because of the buyout of HESS. FCT is up since last year and has been "stable" the last three weeks with the volatile markets. Add to this, that if bought this past week, ($1.1.64/yr div x-div 11/1), the dividend would be $1.261/Yr and the time between dividends (for the one year period) would not have increased any. That gives us a 12+% for the next one year period....
Live Long and Prosper....
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Post by xray on Oct 28, 2023 19:14:43 GMT
Simply Wall St. Hess Midstream (NYSE:HESM) Is Paying Out A Larger Dividend Than Last Year editorial-team@simplywallst.com (Simply Wall St) Fri, October 27, 2023, 6:04 AM EDT In this article:
HESM -0.86%
Hess Midstream LP's (NYSE:HESM) dividend will be increasing from last year's payment of the same period to $0.6175 on 14th of November. This takes the dividend yield to 8.0%, which shareholders will be pleased with.
See our latest analysis for Hess Midstream
Hess Midstream Doesn't Earn Enough To Cover Its Payments
While it is great to have a strong dividend yield, we should also consider whether the payment is sustainable. Before making this announcement, Hess Midstream's dividend was higher than its profits, but the free cash flows quite comfortably covered it. Given that the dividend is a cash outflow, we think that cash is more important than accounting measures of profit when assessing the dividend, so this is a mitigating factor.
The next 12 months is set to see EPS grow by 56.7%. However, if the dividend continues along recent trends, it could start putting pressure on the balance sheet with the payout ratio reaching 121% over the next year.
historic-dividend historic-dividend Hess Midstream Is Still Building Its Track Record
Hess Midstream's dividend has been pretty stable for a little while now, but we will continue to be cautious until it has been demonstrated for a few more years. Since 2017, the annual payment back then was $1.20, compared to the most recent full-year payment of $2.4. This works out to be a compound annual growth rate (CAGR) of approximately 12% a year over that time. We're not overly excited about the relatively short history of dividend payments, however the dividend is growing at a nice rate and we might take a closer look.
Dividend Growth May Be Hard To Achieve
Investors could be attracted to the stock based on the quality of its payment history. Earnings have grown at around 4.2% a year for the past five years, which isn't massive but still better than seeing them shrink. So the company has struggled to grow its EPS yet it's still paying out 115% of its earnings. This gives limited room for the company to raise the dividend in the future.
We should note that Hess Midstream has issued stock equal to 55% of shares outstanding. Regularly doing this can be detrimental - it's hard to grow dividends per share when new shares are regularly being created.
Our Thoughts On Hess Midstream's Dividend
Overall, this is probably not a great income stock, even though the dividend is being raised at the moment. The company is generating plenty of cash, which could maintain the dividend for a while, but the track record hasn't been great. This company is not in the top tier of income providing stocks.
Investors generally tend to favour companies with a consistent, stable dividend policy as opposed to those operating an irregular one. Still, investors need to consider a host of other factors, apart from dividend payments, when analysing a company. Just as an example, we've come across 3 warning signs for Hess Midstream you should be aware of, and 1 of them makes us a bit uncomfortable. If you are a dividend investor, you might also want to look at our curated list of high yield dividend stocks.
Live Long and Prosper....
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Post by xray on Nov 4, 2023 15:26:57 GMT
Some new bargains available for income oriented investors. Market is springing back to normal mktprc's very nicely. Recommend that income investors always watch "BOOK VALUES and NAV's" for reality in MktPrc's being shown each week. With that said.... 1... Added from watch list THW (4%) as the MktPrc was exceptionally low last week (NAV 10.88, MktPrc 9.84) and became a buy this past week. ....Current NAV 11.33 with MktPrc (COB 11/2) 10.89. Distribution >12% and pays $0.1167/monthly ($1.40/Yr)/sh.... 2... GPP in a merger cjurrently 3... ARCC has a book value of 21.93 4... EFC has a book value of 14.33 5... KMF merging into KYN 6... RITM has a book value of 12.32 7... Watch "GRANT AWARDS" in insider buys as some insiders being awarded shares in their company .... Examples: ........ CAPL 30,000sh ........ RITM 15,000sh ........ FCT announcing ownership
Live Long and Prosper....
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Post by xray on Nov 11, 2023 17:17:57 GMT
SECURITIES 11/12 SECURITY … NAV/MktPrc… % PORT … ANALYSIS … Insider
ARCC 21.93*/19.61 … 6% … +99 … 17.84 5/2 ^AVK 11.23/10.07 … 2% … -17 … 10.25 11/8 CAPL 22.84/21.91 … 6% … +219 … 18.38 5/24 EFC 14.33*/12.70 … 4% … +163 … none FSK 24.89*/19.82 … 6% … +507 … 20.61 9/1 ^GLO 5.47/4.46 … 2% … +43 … 5.04 8/23 ^GLQ 6.83/5.61 … 2% … +56 … 6.27 8/23 GLP 33.12/32.48 … 2% … +760 … 32.49 9/25 GPP 13.64/12.94 … 6%… -+57 … 12.94 7/1 HESM 30.32/29.61 … 2% … +48 … none ^KYN 9.93/8.12 … 6% … +18 … 8.39 3/29 ^LGI 16.28/13.67 … 2% … +85 … none RITM 12.32*/9.78 … 6% … -35 … 9.30 9/21 ^RVT 14.32/12.38 … 4% … +34 … 13.42 10/5 ^USA 6.22/6.15 … 6% +33 … 6.12 11/3 ^FCT 11.03/9.87 … 6% … +25 … none ^THW 11.22/10.27 … 4% … -51 … none
* BOOK VALUE ^ Closed End Fund
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Comment: Market should be volatile this week .... Live Long and Prosper....
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Post by xray on Nov 12, 2023 17:45:45 GMT
rumi, ECE Prof, johnsmith, steelpony10,@fpajerski, retiredat48, uncleharley, Ultima Thule, shridog, richardsok, SECURITIES 11/12 SEC … crashes … 12/31 … NAV/MktPrc… % PORT … ANALYSIS … Insider ARCC 18.62 … 18.47 … 21.93*/19.61 … 6% … +99 … 17.84 5/2 ^AVK 12.26 … 12.31 … 11.23/10.07 … 2% … -17 … 10.25 11/8 CAPL 19.72 … 19.83 … 22.84/21.91 … 6% … +219 … 18.38 5/24 EFC 13.56 … 12.37 … 14.33*/12.70 … 4% … +163 … none FSK 18.97 … 17.50 … 24.89*/19.82 … 6% … +507 … 20.61 9/1 ^GLO 5.68 … 5.81 … 5.47/4.46 … 2% … +43 … 5.04 8/23 ^GLQ 7.01 … 7.20 … 6.83/5.61 … 2% … +56 … 6.27 8/23 GLP 24.88 … 34.77 … 33.12/32.48 … 2% … +760 … 32.49 9/25 GPP 12.37 … 12.96 … 13.64/12.94 … 6%… -+57 … 12.94 7/1 HESM 29.34 … 29.92 … 30.32/29.61 … 2% … +48 … none ^KYN 9.75 … 10.06 … 9.93/8.12 … 6% … +18 … 8.39 3/29 ^LGI 15.43 … 16.01 … 16.28/13.67 … 2% … +85 … none RITM 8.54 … 8.17 … 12.32*/9.78 … 6% … -35 … 9.30 9/21 ^RVT 14.35 … 14.61 … 14.32/12.38 … 4% … +34 … 13.42 10/5 ^USA 5.39 … 5.90 … 6.22/6.15 … 6% +33 … 6.12 11/3 ^FCT 10.78 … 11.01 … 11.03/9.87 … 6% … +25 … none ^THW 12.89 … 13.12 … 11.22/10.27 … 4% … -51 … none * BOOK VALUE ^ Closed End Fund Comment: 1… Added some additional information 2… Market will be volatile this week (New bond rating to “negative”) 3… Book values and “NAV’s” should be followed and “NOT” MktPrc’s. NAV’s reflect “current value” vs MktPrc’s reflect investor emotion 4… Interesting oil information this past week. Buffet owns 25% of a oil company and analysts believe he will, at some point, buy out the company and take it public Add to this that analysts are currently showing oil “value” at $92/barrel at current inflation data and the <80 should be ignored Live Long and Prosper….
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Post by xray on Nov 12, 2023 18:57:13 GMT
GBDC Something to look at:
One of Buffett’s securities currently in his portfolio (ARCC is already there)….
Security sells for 14.75 (COB Friday) but is up to 14.84 in after hour trading. Current NAV (September 30th) was 15.02…. Current dividend is 10.03% and it appears they have raised their dividend $0.04 in last x-div cycle and is now $0.37/Qtr…. Another BDC where Buffett appears to own three of them including CII (if my memory is correct)…. Looking at my computer insider buy/sell activity, I see a buy on 5/25 for 8,000sh @ 13.02….
I realize we just have found this information and Monday might see a completely new MktPrc (higher) and will affect the current dividend. However, always however’s, the market might have a substantial correction day (reacting to the neutral to negative rating of the bond market) and a possible entry point might be realized…. Anyway, something to look at before the opening bell IMHO….
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Warren Buffett Stocks With Ultra-High Dividend Yields of More Than 6.4% Keith Speights, The Motley Fool Sat, November 11, 2023, 5:51 AM EST
One of these Buffett stocks has an impressive track record of trouncing the S&P 500. Warren Buffett doesn't chase momentum. And he doesn't chase dividend yields. You can count on one hand the number of stocks in his Berkshire Hathaway (BRK.A 0.69%) (BRK.B 0.68%) portfolio with dividend yields of 5% or more.
However, that's not the full story. Here are three stocks with not just high dividend yields but ultra-high yields you probably didn't know Buffett owns.
1. Golub Capital Golub Capital (GBDC 0.27%) ranks as the juiciest dividend stock that Buffett owns. It currently offers a dividend yield of over 10%. Golub has also delivered solid gains so far in 2023 with an even better total return.
NASDAQ: GBDC Golub Capital Bdc Today's Change (0.27%) $0.04 Current Price $14.75 YTD 1W 1M 3M 6M 1Y 5Y PRICE VS S&P GBDC KEY DATA POINTS Market Cap $3B Day's Range $14.62 - $14.77 52wk Range $12.23 - $15.06 Volume 576,650 Avg Vol Gross Margin 70.85% Dividend Yield 10.06% You won't find Golub Capital listed among Berkshire's holdings. However, the stock is in the portfolio of Berkshire's subsidiary, New England Asset Management (NEAM). Buffett, therefore, owns a stake in Golub. Why is Golub Capital's dividend yield so high? It's a business development company. Similar to REITs, BDCs must return at least 90% of earnings to shareholders to be exempt from federal income taxes.
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2. Ares Capital There's also another BDC in NEAM's portfolio that generates ultra-high-yield dividends for the Oracle of Omaha. Ares Capital (ARCC 0.77%) pays a dividend yield north of 9.8%. Although its yield hasn't always been so high, the company hasn't cut its core dividend in more than 13 years.
NASDAQ: ARCC Ares Capital Today's Change (0.77%) $0.15 Current Price $19.61 YTD 1W 1M 3M 6M 1Y 5Y PRICE VS S&P ARCC KEY DATA POINTS Market Cap $11B Day's Range $19.46 - $19.61 52wk Range $16.95 - $20.17 Volume 2,267,956 Avg Vol Gross Margin 72.36% Dividend Yield 9.87% Ares Capital is much larger than Golub Capital. In fact, it's the biggest publicly traded BDC around with a market cap of over $11 billion. Since its initial public offering in 2004, Ares Capital has delivered an annualized cumulative total return that has trounced the S&P BDC Index, which tracks 39 of the biggest BDC stocks that trade on U.S. exchanges. The stock's total return has also handily beaten the S&P 500 during that period as well as over the last three years.
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3. Crown Castle NEAM's ultra-high-yield dividend stocks aren't limited to BDCs. The Berkshire Hathaway subsidiary also holds a position in cell tower owner Crown Castle (CCI 0.02%). Although Crown Castle's dividend yield of nearly 6.5% isn't as jaw-dropping as Golub Capital's and Ares Capital's, it nonetheless meets my threshold of ultra-high (which I define, by the way, as a yield that's at least four times greater than the S&P 500's yield.)
Live Long and Prosper....
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Post by xray on Nov 16, 2023 21:13:05 GMT
Keep in mind that "DECEMBER" is a cash cow month (one of four normal Qtrly payouts-- MARCH/JUNE/SEPTEMBER/DECEMBER). Check x-div dates, going forward, on all income related securities in current portfolio's....
Live Long and Prosper....
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Post by xray on Dec 2, 2023 22:27:54 GMT
richardsok, Latest 10 SEC filings (by transaction date) for KYN within the last 6 months [?] Amended Filing Amended Filing Footnote and/or Remark Footnote and/or Remark As of 11:59pm ET December 2nd, 2023 Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction Volume or Value Price Nov 30/23 Nov 30/23 Baker James C Direct Ownership Common Stock P - Open market or private purchase 40,000 $8.50 Nov 29/23 Nov 28/23 Kayne Anderson Capital Advisors Lp Direct Ownership Common Stock P - Open market or private purchase 1,610,747 $10.03 Nov 29/23 Nov 28/23 Logan Ron M Jr Direct Ownership Common Stock P - Open market or private purchase 15,354 $10.03 Nov 29/23 Nov 28/23 Baker James C Direct Ownership Common Stock P - Open market or private purchase 37,547 $10.03 Nov 29/23 Nov 28/23 Hart Terry A Direct Ownership Common Stock P - Open market or private purchase 15,354 $10.03 Nov 29/23 Nov 28/23 Frey John C Direct Ownership Common Stock P - Open market or private purchase 117,946 $10.03 Nov 21/23 Nov 13/23 Frey John C Direct Ownership Common Stock A - Grant, award or other under Rule 16b-3(d) Footnote and/or Remark 157,864 $9.93 Nov 21/23 Nov 13/23 Logan Ron M Jr Direct Ownership Common Stock A - Grant, award or other under Rule 16b-3(d) Footnote and/or Remark 13,156 $9.93 Nov 21/23 Nov 13/23 Baker James C Direct Ownership Common Stock A - Grant, award or other under Rule 16b-3(d) Footnote and/or Remark 178,968 $9.93 Nov 21/23 Nov 13/23 Parker Austin Colby Direct Ownership Common Stock A - Grant, award or other under Rule 16b-3(d) Footnote and/or Remark 1,760 $9.93 ---------- Comment: KMF merged into KMF on 11/13. Insiders are currently seeing a undervalued CEF (KYN).... Live Long and Prosper....
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Post by xray on Dec 2, 2023 22:30:41 GMT
KMF closed COB Friday with a NAV of 10.59 and MktPrc of 8.64 {@ discount)....
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Post by xray on Dec 2, 2023 23:42:31 GMT
rumi, ECE Prof, johnsmith, steelpony10,@fpajerski, retiredat48, uncleharley, Ultima Thule, xray, shridog, richardsok, SECURITIES 12/3 SEC … crashes … 12/31 … NAV/MktPrc… % PORT … ANALYSIS … Div 12/3 … Insider
ARCC 18.62 … 18.47 … 21.93*/19.92 … 6% … +45 … 9.65% … 17.84 on 5/2 ^AVK 12.26 … 12.31 …. 11.93/10.65 ….. 2% … +20 ….. 10.65% …10.25 on 11/8 CAPL 19.72 … 19.83 … 22.84/23.15 … 6% … +100+… 9.07% … 18.38 on 5/24 ^DPG 11.21 …. 12.45 …10.91/9.64 …… 2% ….. +99 … 10.06% … none EFC 13.56 …… 12.37 … 14.33*/12.70 … 0% … +000 … SOLD … none ….. SOLD … Merging into AAIC FSK 18.97 ….. 17.50 …. 24.89*/19.91 … 6% … +22 … 14.06% … 20.61 on 9/1 ^GLO 5.68 ….. 5.81 …… 5.61/4.68 ……. 4% … +20 … 12.38% … 5.04 on 8/23 ^GLQ 7.01 …… 7.20 …… 7.02/5.88 ……. 4% … +29 … 12.22% … 6.27 on 8/23 GLP 24.88 … 34.77 … 33.12/37.36 ….. 6% … +200 .. 7.33% … 32.49 on 9/25 GPP 12.37 … 12.96 … 13.64/12.97 …… 6%… +000 … 14.03% … 12.94 on 7/1 ^HGLB 11.70..12,84 .. 11.49/8.32 …. . 2% …… +25 …. 14.00% … none HESM 29.34. 29.92 … 30.32/32.74 … 2% … +300 … 7.25% …..none ^KYN 9.75 … 10.06 …… 9.93/8.12 ….. 6% … +64 …. 9.72% ..… 8.39 on 3/29 ^LGI 15.43 … 16.01 … 16.28/13.67 … 2% … +100+ … 7.63% …. none ^MFD 9.06 …. 9.16 ….. 8.83/7.74 ….. 2% …. +68 .… 10.34% …..none RITM 8.54 ….. 8.17 … 12.32*/9.78 … 6% … +100+ … 9.47% ….. 9.30 on 9/21 ^RSF 17.26 .. 17.08 .. 16.65/15.63 … 2% ….. +20 ….. 11.33% .… Redemption 16.39 ^RVT 14.35 .. 14.61 … 15.44/13.73 … 4% … +56 ……. 7.79% …. 13.42 on 10/5 ^USA 5.39 ….. 5.90 … 6.46/6.18 ..… 6% …. +36 ……. 9.71% ….. 6.12 on 11/3 ^FCT 10.78 … 11.01 … 11.03/9.82 ….. 6% … +000 … 11.85% …… none ^THW 12.89 .. 13.12 … 11.62/11.45 … 4% … +000 … 12.88% ….. none ^VGI 8.48 ….…. 8.86 …. 8.50/7.44 .… 2% …. +23 …. 14.16% …… none
* BOOK VALUE ^ Closed End Fund
Comment: 1… Added some additional information 2… Market will be volatile this week (New bond rating to “negative”) 3… Book values and “NAV’s” should be followed and “NOT” MktPrc’s. NAV’s reflect “current value” vs MktPrc’s reflect investor emotion 4… Crash data shown is in NAV and not MktPrc for CEF’s 5… Interesting oil information this past week. Buffet owns 25% of a oil company and analysts believe he will, at some point, buy out the company and take it public Add to this that analysts are currently showing oil “value” at $92/barrel at current inflation data and the <80 should be ignored
Live Long and Prosper….
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Post by xray on Dec 3, 2023 22:53:24 GMT
rumi, ECE Prof, johnsmith, steelpony10,@fpajerski, retiredat48, uncleharley, Ultima Thule, shridog, richardsok, Getting your xmas bonus as a “Income Investor”: Most income investors get their Qtrly dividends four times a year (March, June, September, and December)…. Since this is December income investors will be getting their dividends or distributions this month (normally)…. However, there is a way to get “5” dividends or distributions in the same year…. 1… Locate, by analysis, your “BEST” performing securities for the year and observe their “x-div “date (in December)…. 2… Buy some additional shares, before the x-div date, and you will be getting a “ADDITIONAL” dividend or distribution for 2024 (Paying Div 2023 & 2024). Income investors will be getting “5th” dividend or distribution (Instead of four) each and every year going forward when continuing to use this technique…. Live Long and Prosper….
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Post by xray on Dec 4, 2023 20:52:06 GMT
rumi, ECE Prof, johnsmith, steelpony10,@fpajerski, retiredat48, uncleharley, Ultima Thule, shridog, richardsok, " ALERT"Something to study (IIF) .... Take the EOY (end of year distribution) and let IIF grow again to NEXT December (2024) for another EOY distribution.... ---------- NEW YORK, December 06, 2022--(BUSINESS WIRE)--Each of the Morgan Stanley closed-end funds listed below (the "Funds") today declared the following dividends. RECORD DATE PAYABLE DATE 12/16/22 1/13/23Name of Closed-End Fund NYSE Ticker Net Investment Income Per Share Short-Term Capital Gains Per Share Long-Term Capital Gains Per Share Morgan Stanley India Investment Fund, Inc. IIF $0.204019 $0.172786 $3.606351 For more information call: 1-800-231-2608. *The amount of net investment income to be paid by the Funds is determined in accordance with federal income tax regulations. A portion of the Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.’s 2022 distribution is a return of capital. For Morgan Stanley Emerging Markets Debt Fund, Inc. it is possible that all or a portion of the Funds’ 2022 dividends may be a return of capital and that determination cannot yet be made. The amount of dividends paid by each of the Funds may vary from time to time. Past amounts of dividends are no guarantee of future dividend payment amounts. The final determination of the source and tax characteristics of all distributions in 2022 will be made after the end of the year. Live Long and Prosper....
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Post by anitya on Dec 10, 2023 9:12:10 GMT
uncleharley , richardsok , & rhythmmethodAs of Friday, I did not see PIMCO posting any YE special distribution on its multi-sector CEFs. Does anyone remember PIMCO declaring the YE Special in a prior year as late Dec 11? I do not but thought I should ask you guys. I did not post at Fido community because some folks there seem pretty defensive about this topic or anything about PIMCO. Thanks.
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Post by keppelbay on Dec 10, 2023 9:45:52 GMT
uncleharley , richardsok , & rhythmmethod As of Friday, I did not see PIMCO posting any YE special distribution on its multi-sector CEFs. Does anyone remember PIMCO declaring the YE Special in a prior year as late Dec 11? I do not but thought I should ask you guys. I did not post at Fido community because some folks there seem pretty defensive about this topic or anything about PIMCO. Thanks.
In recent years, PIMCO EOY specials have been announced in the 1st (full) week of Dec and paid on the 13th or 14th. In 2016 and earlier they were later in the month.
... absence of evidence is not evidence of absence, until it is.
At this point I don't think we'll be seeing EOYs this year. From looking at the UNII reports, it seems that PIMCO have been moving funds out of NII and into something else (swaps?). Even for funds overearning, like PAXS, they seem to be putting the money to work rather than letting UNII build up for EOY distribution.
The following is copied over from an earlier post about PAXS, by way of illustration: At the start of the fiscal year, UNII went from 0.00 (end of June) to negative 0.15 in July - a month where NII was 0.09 and 0.1494 was distributed. At worst, overdistributing NII by 6c should have taken UNII to negative 0.06. So apparently the 9c of NII went into something other than the cumulative calculation of UNII (swaps, whatever...). The next month, NII increased by 22c of which 0.1494 was distributed. UNII could have gone up 7 cents from -0.15 to -0.08. But, it went up only 1c to -0.14... (all this ignoring non-NII income).
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Post by yogibearbull on Dec 10, 2023 13:21:53 GMT
Is anyone following GIM/SABA transition?
GIM has announced December distribution that are low. I am wondering if more will be announced as the portfolio will transition from global income (GIM under Franklin Templeton) to global hybrid (SABA under Saba) after 12/31/23. I am also concerned that in 2024 there may be high CG distributions due to complete portfolio makeover, although Saba's prior acquisition didn't have that. Unfortunately, M* doesn't show "Potential CG Exposure" for CEFs as it does for OEFs (GIM OEF cousin TPINX has NEGATIVE Potential CG Exposure).
SABA is on my buy list as soon as its potential CG distribution picture becomes clear.
FWIW, activist Saba has also won recent court cases against Nuveen/TIAA, BlackRock/BLK, etc. These firms used state laws to limit Saba's voting, but Saba sued that this violated federal laws and the SEC regulations (that allow stricter state laws if applied properly, not suddenly in retaliation).
Edit/Add. From Semiannual, 6/30/23, I see only LOSS carryforwards and unrealized DEPRECIATION. So, there may not be a CG distribution issue from portfolio makeover.
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Post by uncleharley on Dec 10, 2023 15:48:52 GMT
uncleharley , richardsok , & rhythmmethod As of Friday, I did not see PIMCO posting any YE special distribution on its multi-sector CEFs. Does anyone remember PIMCO declaring the YE Special in a prior year as late Dec 11? I do not but thought I should ask you guys. I did not post at Fido community because some folks there seem pretty defensive about this topic or anything about PIMCO. Thanks. I rely on daily and weekly charts of trading activity to warn me of any negative actions that may affect the value of my investments. The charts of the PIMCO CEFS in my portfolio are all bullish.
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Post by rhythmmethod on Dec 10, 2023 23:28:22 GMT
uncleharley , richardsok , & rhythmmethod As of Friday, I did not see PIMCO posting any YE special distribution on its multi-sector CEFs. Does anyone remember PIMCO declaring the YE Special in a prior year as late Dec 11? I do not but thought I should ask you guys. I did not post at Fido community because some folks there seem pretty defensive about this topic or anything about PIMCO. Thanks. Hi anitya , I hope there isn't a YE special because it triggers a tax event. I hold some in my nonsheltered account to tax harvest if desired. Also, I will be happy if the PIMCOs don't cut the dividend as others predicted. I kept reinvesting to lower my CB. In short, I let those things throw off the income and deal with the ups/downs/YE specials (thus I don't know how late in Dec they are) as they occur. Probably not much help, but my perspective. Take care, RM
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Post by anitya on Dec 15, 2023 20:43:18 GMT
Copied below from the B/S/W thread ( big-bang-investors.proboards.com/post/45050/thread ): Dec 13, 2023 at 6:00pm anitya said: It [PDX] is not a PIMCO FI CEF. PIMCO classifies the PDX as a "MULTI ASSET, REAL ASSET, EQUITIES, US LARGE EQUITY" fund. December 14 at 2:14am keppelbay replied: Check out the PIMCO site for the new fund information. The strategy has changed since NRGX became PDX. It now sounds like a more typical IMCO FI strategy, albeit with a 25% weighting toward energy. PDX is now called the Dynamic Income Strategy Fund. www.pimco.com/en-us/investments/closed-end-funds/dynamic-income-strategy-fund"Effective November 21, 2023, the PIMCO Energy and Tactical Credit Opportunities Fund changed its name, ticker symbol, investment objectives and guidelines, portfolio manager lineup, and made other changes. PIMCO expects that these changes will reduce the fund’s focus on investments linked to the energy sector in favor of a primarily income-oriented objective and broader, multi-sector credit mandate." Many PDX fans expect the distribution strategy to shift from quarterly to monthly and for the distribution amount to increase in line with their other FI CEFs. But, we'll have to wait to see if that turns out to be true. I'm watching this one from the sidelnes... Dec 14, 2023 anitya replied: Everything I reported, including PIMCO classification of PDX, is from PIMCO site. I own PDX - in fact, currently, the only CEF in my portfolio. Not sure why you are arguing without reading the prior discussion on PDX in this forum, even after I have suggested to do so. Sorry, I do not have the bandwidth to mix investment and entertainment, especially not on this thread.
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Post by anitya on Dec 15, 2023 20:44:59 GMT
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Post by liftlock on Dec 16, 2023 2:19:49 GMT
Where are you seeing this? The holdings report and fund card appear to be dated 9-30-2023? It looks like the fund's investment objective has been updated. Post edit update: I see "updated Nov 30" above the portfolio composition. it looks like the asset allocation continues to reflect the holdings of NRGX. I wonder whether the information is accurate. The 12/30/2023 holdings reports should provide more clarity once it becomes available.
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Post by anitya on Dec 16, 2023 5:41:13 GMT
Where are you seeing this? The holdings report and fund card appear to be dated 9-30-2023? It looks like the fund's investment objective has been updated. Post edit update: I see "updated Nov 30" above the portfolio composition. it looks like the asset allocation continues to reflect the holdings of NRGX. I wonder whether the information is accurate. The 12/30/2023 holdings reports should provide more clarity once it becomes available. I was expecting you are more objective than that. There is no section called “asset allocation.” There is a section called “Assets & Leverage” which simply tells one total quantity of assets and amount and type of leverage used, which indicates as of Oct 31. Size of the bag does not determine what is inside the bag (a la Portfolio Composition). Even Dick at Fidelity Community seems to be seeing what he wants to see rather than what is written. Going forward, I will keep my analysis and conclusions to myself.
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Post by Norbert on Dec 16, 2023 7:49:31 GMT
anityaIn the pursuit of objectivity: "New York, NY – September 22, 2023 – PIMCO Energy and Tactical Credit Opportunities Fund (NYSE: NRGX) (the “Fund”) announced that it will change its name, ticker symbol, investment objectives and guidelines, and portfolio manager lineup, as further described below. Pacific Investment Management Company LLC (“PIMCO”), the investment manager of the Fund, expects that the changes will reduce the Fund’s focus on investments linked to the energy sector in favor of a primarily income-oriented objective and broader, multi-sector credit mandate, which PIMCO believes has the potential to strengthen secondary market demand for the Fund’s common shares. "The Fund will be renamed “PIMCO Dynamic Income Strategy Fund” and its New York Stock Exchange ticker symbol will be “PDX”. The Fund’s new investment objectives will be to seek current income as a primary objective and capital appreciation as a secondary objective. The Fund will also rescind its policy to invest, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investments linked to the energy sector. The Fund will, however, continue to invest at least 25% of its total assets in the energy industry." So, pretty much a total fund overhaul. Perhaps its portfolio transition is complete, perhaps not. What interests me is whether the PDX discount (rare for Pimco multi-sector bond CEFs) is an opportunity for us. N.
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Post by anitya on Dec 16, 2023 17:27:09 GMT
Norbert , I started buying PDX in late Nov thinking the fund had sufficient time to complete change, in time for Dec Div declaration. It turned out I was wrong. To answer your question, I am too old to bet on potential catalysts without a timeline when the potential is only 10-12%. Everyone has a different threshold for betting on the future. I will decide whether to sell and sit out until there is clarity on what it is, rather than what it is going to be. I sold in 2021 a sizable NRGX bought in Covid lows because I no longer wanted its portfolio. So, no point for me buying that portfolio at a higher price.
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Post by liftlock on Dec 17, 2023 13:22:50 GMT
Where are you seeing this? The holdings report and fund card appear to be dated 9-30-2023? It looks like the fund's investment objective has been updated. Post edit update: I see "updated Nov 30" above the portfolio composition. it looks like the asset allocation continues to reflect the holdings of NRGX. I wonder whether the information is accurate. The 12/30/2023 holdings reports should provide more clarity once it becomes available. I was expecting you are more objective than that. There is no section called “asset allocation.” There is a section called “Assets & Leverage” which simply tells one total quantity of assets and amount and type of leverage used, which indicates as of Oct 31. Size of the bag does not determine what is inside the bag (a la Portfolio Composition). Even Dick at Fidelity Community seems to be seeing what he wants to see rather than what is written. Going forward, I will keep my analysis and conclusions to myself. anitya, I'm sorry that my post was not better worded. When I first saw your post I was surprised by your comment that PDX remained so heavily invested in oil and gas. That is not what I expected, since the new mandate for PDX is supposed to reduce it's minimum oil and gas exposure to 25% from the 80% exposure of NRGX. So, I went to the PIMCO website to investigate the information you had posted. I could not find a portfolio holdings document dated Nov 30. The one I found was dated Sept 30 before the conversion. I did see the "Portfolio Composition" section which supports what you had posted abut the large allocation to oil and gas, but I missed seeing the "as of Nov 30" date posted in small font to the left which prompted my question "Where are you seeing this?" I used the term "asset allocation" to refer to what Pimco shows as portfolio composition of "top industry sectors market value %". I presume you used this section to base your comments on the high allocation to oil and gas. To me "Portfolio Composition" by industry sector and the "asset allocation" of the holdings within a portfolio are similar terms. I saw Dick's post on the Fidelity Community that he has exited his position in PDX until more clarity is provided about the holdings and future distribution policy for PDX. It sounds like the higher income provided by other CEFs is more important to him than the higher discount provided by PDX. I am still holding my PDX position betting on the probability that the 12% discount will eventually narrow. Pimco listed "reducing the discount" as a primary reason for changing the investment strategy of NRGX to PDX. I do not believe the discount will narrow unless the distribution rate substantially increases above the 4% paid by NRGX. It seems likely that Pimco management understands that. Furthermore, I think it is hard to go wrong with an investment where the lead portfolio manager owns so many shares. I am perfectly willing to allow time for things to develop. Beyond that, I am more likely to stay invested in the PDX longer term if the discount does not narrow. I like the margin of safety the discount provides. I hope you will continue to share your analysis and conclusions as I welcome them. My apologies if my words came across as being critical or suggested otherwise. That was not my intent.
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Post by Norbert on Dec 17, 2023 16:24:33 GMT
On balance, it seems to me that we're seeing a buying opportunity with the PDX discount so tasty; I suspect the yield will rise soon. The discount offers a so-called "margin of safety".
Of course, there's no free lunch in the world of investing.
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Post by richardsok on Dec 17, 2023 17:50:58 GMT
CEF positions in order of size:
(Big positions) PHK PAXS
(1% +/- of PV) PDX WDI FPF KYN HIX EFT
ALSO HOLDING CEFD and PCEF
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Positions can change any time. Much depends on technicals and ex divs. I regard most CEFs as trading chips, not B&H.
PDI is conspicuously absent. If Pimco were planning a dist cut, January would be a good month to do it. IMHO.
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Post by liftlock on Dec 17, 2023 19:42:30 GMT
On balance, it seems to me that we're seeing a buying opportunity with the PDX discount so tasty; I suspect the yield will rise soon. The discount offers a so-called "margin of safety". One caution is that the discount has been tasty for several months now. Sometime before the end of Q1 would my expectation for soon.
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Post by anitya on Dec 18, 2023 17:12:37 GMT
CEF positions PDI is conspicuously absent. If Pimco were planning a dist cut, January would be a good month to do it. IMHO. please elaborate your apprehension why there could be a cut now. PDI held its distribution thru the rate storm. I would have thought if there was a good time to cut that would have been when FF rates crossed 5% with higher rate threat. Thanks.
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