CEF Holdings --- June 2026

[Ozz]

$100k @ $17 ps is 5888 shares X .2205 = $1297 per month
$100k @ $15.5 ps is 6452 shares X .2205 = $1432 per mo.
Difference of $126 per month or $1506 annual dividends.
$1506÷ 100,000=1.506%
But I could be wrong....willing to stand corrected.

Aha, see my error. I was looking at monthly income which is 10% more, not the ROI

 

[BuckeyesRC]

For those of us steeped in the world of CEFs, a big decision came out today: Supreme Court rules against private suits brought under key securities law

I would be a little careful about being in the ETF CEFS right now, but we will have to wait and see how Saba and other activist firms act on their holdings. I dumped my position in BRW yesterday, thinking this might end up being a big headwind to Saba's trajectory.

 

[dickoncapecod]

+1. In the case of PDI the dividend difference between buying at $17 or buying at $15.5 is 1.5% annually.

Personally, not a number that I lose sleep over.

Perhaps not worth worrying about, but let's do the math....
At 17, PDI yields 15.56% ---- at 15.5, PDI yields 17.07%
$17,000 buys 1000 PDI at 17.
$17,000 buys 1097 PDI at 15.5
The benefits of buying at 15.5 vs 17 are just $21 per month and only 252 per annum.
But at ANY positive long term total return per annum, 1097 shares will outperform 1000 shares by a growing and in time substantial amount.
Regards, Dick

 

[dickoncapecod]

FWIW, I started selling some PIMCOs --- mostly PHK --- and rolling proceeds into 6/15 ex-date JFR and GOF (that were near 0%). Looked at Blackrock floaters after they confirmed higher yield for a while but are clearly wasting assets relative to the Nuveen product JFR.

 

[latexman]

+1. In the case of PDI the dividend difference between buying at $17 or buying at $15.5 is 1.5% annually.

Notice it says dividend difference, not return difference.

My math skills are probably worse than yours but here's my logic:

$100k @ $17 ps is 5888 shares X .2205 = $1297 per month
$100k @ $15.5 ps is 6452 shares X .2205 = $1432 per mo.
Difference of $126 per month or $1506 annual dividends.
$1506÷ 100,000=1.506%
The name of the game is income not how many shares I've bought.
But I could be wrong....willing to stand corrected.

Dividend difference
(1432+1297)/2 = 1364.5
(1432-1297)/1364.5 x 100 = 10%

Return difference
1506 ÷ 100,000=1.5%

It’s just a communication problem.

 

[dickoncapecod]

Started rolling into WDI ---perhaps f I r the long term. 13,5% covered distribution with growing 15c UNII and 7% discount for a BB portfolio.
Regards, Dick

 

[DrVenture]

Started rolling into WDI ---perhaps f I r the long term. 13,5% covered distribution with growing 15c UNII and 7% discount for a BB portfolio.
Regards, Dick

What percentage of your portfolio do you see putting into WDI?
What is " f | r " ? Typo of "for" ?

 

[dickoncapecod]

What percentage of your portfolio do you see putting into WDI?
What is " f | r " ? Typo of "for" ?

Yes, my computer "helped me" with 'for.' Percent of WDI?....no idea. I've owned positions ranging from roughly 5% to 15% in the past. But how big it gets depends as much on prices of other assets as WDI.

 

[COcheesehead]

.2205 on $17 = 15.5% annualized
.2205 on $15.50 = 17% annualized.

 

[dickoncapecod]

.2205 on $17 = 15.5% annualized
.2205 on $15.50 = 17% annualized.

Rounded down, sure. But this catches only one dimension. Unless invested dollars are held steady, the purchased share numbers and their total return consequences are ignored/lost.
Regards, Dick

 

[COcheesehead]

Rounded down, sure. But this catches only one dimension. Unless invested dollars are held steady, the purchased share numbers and their total return consequences are ignored/lost.
Regards, Dick

Correct, I was responding to the post saying the difference was 10%. I didn’t read all the way to the end of the thread before responding so the issue was resolved.

 

[joejetski]

For those of us steeped in the world of CEFs, a big decision came out today: Supreme Court rules against private suits brought under key securities law

I would be a little careful about being in the ETF CEFS right now, but we will have to wait and see how Saba and other activist firms act on their holdings. I dumped my position in BRW yesterday, thinking this might end up being a big headwind to Saba's trajectory.

Thanks for the tip. Sold my position at the end of the day. Split proceeds up, rolling it into FOF (add) YYY (new), and HNDL (new), all “fund of funds” positions.

 

[dickoncapecod]

Goldman wrote today that they expect elevated crude/products prices (influencing everything else) to remain elevated for many months as national reserves are replenished. They see no rate hikes as the economy grows a bit more slowly in H-2 2026. Then as energy prices finally decline and inflation resumes it's long slow fall toward 2%, Fed will cut the last 2 times for this cycle in mid- and late- 2027. (Caveat: no unforseen artificial supply shocks)
FWIW, Dick

 

[COcheesehead]

Goldman wrote today that they expect elevated crude/products prices (influencing everything else) to remain elevated for many months as national reserves are replenished. They see no rate hikes as the economy grows a bit more slowly in H-2 2026. Then as energy prices finally decline and inflation resumes it's long slow fall toward 2%, Fed will cut the last 2 times for this cycle in mid- and late- 2027. (Caveat: no unforseen artificial supply shocks)
FWIW, Dick

If this forecast turns out to be true, there will come a point where market based rates will peak. Seems like a golden opportunity to lock in some nice yields. As always, we shall see.

 

[dickoncapecod]

If this forecast turns out to be true, there will come a point where market based rates will peak. Seems like a golden opportunity to lock in some nice yields. As always, we shall see.

Agree in spades! D

 

[GaltintheGulch]

Agree in spades! D

bad day for Fidelity to be out of service!

 

[COcheesehead]

bad day for Fidelity to be out of service!

? I have access to it.

 

[imbatman]

I was never completely out but definitely had some order pages erroring out around 9:45AM

 

[MRG]

bad day for Fidelity to be out of service!

Its been just fine for me. There's a few reports on reddit but they're not global outages.

I made a career out of fixing performance issues in this industry. If its intermittent, driven by volume, I'd expect you can get in during a lull.

I did just see a note on r/Fidelityinesment they're aware of sporadic problems from some customers.

 

[richardsok]

Goldman wrote today that they expect elevated crude/products prices (influencing everything else) to remain elevated for many months as national reserves are replenished. They see no rate hikes as the economy grows a bit more slowly in H-2 2026. Then as energy prices finally decline and inflation resumes it's long slow fall toward 2%, Fed will cut the last 2 times for this cycle in mid- and late- 2027. (Caveat: no unforseen artificial supply shocks)
FWIW, Dick

Well, I'VE been predicting a RISE in interest rates !

Who you gonna trust? Goldman or me?

 

[PaulR888]

Well, I'VE been predicting a RISE in interest rates !

Who you gonna trust? Goldman or me?

Doesn't Goldman look at the historical graph of the FF rate vs the 2 Year?

 

[dickoncapecod]

Doesn't Goldman look at the historical graph of the FF rate vs the 2 Year?

Indeed, but seriously: GS economic staff estimates the development of macroeconomic factors through future time.,,,,so what happened yesterday and current market views are probably of interest to them, but their work leads them to conclude that the future will be somewhat different from the current narrative embedded/implicit in curves.
Regards, Dick

 

[Onthefarm]

Allocated some cash from recent sales of ASML and KLAC to WDI and PDI in Roth account. Still have more dry powder. Looking to re-enter on KLAC (split effective today) at a good entry point in traditional IRA. Not playing the IPO of much current market action but observing the financial tides created for good opportunities. Thanks to all for your insights!

 

[Old Dog Seeks New Tricks]

anybody want to take a shot at explaining to me why WDI, BGH, GOF and a bunch of Pimco CEFs are up today but PDI is getting trashed down 12-cents ?

 

[dickoncapecod]

anybody want to take a shot at explaining to me why WDI, BGH, GOF and a bunch of Pimco CEFs are up today but PDI is getting trashed down 12-cents ?

No idea except somebody is reallocating $ now in PDI. I just sold PHK to buy some PDI at 16.25....PERCENT.
Regards, Dick