I will never understand why people are flocking to the PIMCO Global StocksPLUS & Income Fund (NYSE:PGP). It trades at a ridiculous 107.58% premium to net asset value and has negative (-$0.6737) undistributed net investment income. It has to generate a 22.52% return on its assets to cover the current distribution. A distribution cut is inevitable!
There are currently 7 closed-end funds that trade at a 20+% premium to net asset value.
William "David" Wedeking - President of Jade Reserves, Inc. and publisher of Sensible Speculation
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