PTY: The 12% Yield With The Better Coverage Story
The article discusses the PIMCO Corporate & Income Opportunity Fund (PTY) and its investment potential. It highlights PTY's improved distribution coverage and stable UNII, making it a favorable option compared to its counterpart, the PIMCO Dynamic Income Fund (PDI). The author rates PTY as a Buy due to its conservative structure and resilience in the current economic climate.
- ▪PTY's distribution coverage has improved from approximately 60% to the high 80s.
- ▪The fund maintains a stable UNII deficit, which supports its income stability.
- ▪The article recommends PTY over PDI due to its conservative structure and lower leverage.
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