6 closed-end funds now trade with 20+% premiums to net asset value. PGP, the Pimco Global StocksPLUS & Income fund, is currently trading at an insane 109.45% premium to net asset value. Paying $2.09 for every $1.00 worth of assets is likely a "ticket to heartache".
Data Source: CEFConnect.com
Those interested in the Pimco StocksPLUS strategy, which PGP uses, might instead consider the open-end mutual fund PSLDX. The Pimco StocksPLUS Long Duration mutual fund uses a similar, but not identical, strategy. It can be purchased in any brokerage account at net asset value. An additional bonus is that PSLDX has performed better than PGP since inception. (14.03% vs. 12.91%)
William "David" Wedeking - President of Jade Reserves, Inc. and publisher of Sensible Speculation
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