Pretty crazy stuff recently related (supposedly) to oil pricing; and hopefully most are not getting their investment arse kicked with some of this. It is a very good time to review this or that fund or sector or stock to discover reactions over the past few weeks; and into the future, as needed. One fund that has been noted again recently is PQTIX PQTDX. On Dec. 10, yesterday; this fund closed down -3.5% and today, closed at +.35%. No, I don't know what this means for this fund.
*****Opps, my bad. PQTIX PQTDX had distributions on Dec. 10, yesterday.
scott noted about HYG in the oil thread. The below is my note regarding the high yield bond sector, in particular; the active managed funds.
As to your reference to HYG. This etf did have (have not checked for the past week) 18% of its composition involved in energy debt, so its price decline makes sense. The current nasty problem for those invested in high yield bond funds is: harmful or undesirable contact or influence; also know as contagion. This sector is taking a whack, too.
I have reviewed several hy bond funds where we have been invested previous; and the majority hold 5-8% directly related to the energy sector. Obviously, these small percentages have put downward pressure on the funds; but I suspect some of the downward price pressure is also tied to the down moves related to equity in general. Folks just moving away for now; although I sure would like to know where the monies are traveling.
Have you a good or bad surprise from any of your holdings, with the ongoing oil price melt?
Thank you and take care,
Catch
Comments
I amended my statement about PQTIX; as there was a distribution on Dec. 10, yesterday.
But, I will watch this fund, too; to find how it does with the overall market directions.
This is Fido composition view for PQTIX.
I used to tell my parents when I was a kid, I wanted "Surprises" for Xmas, I got them again this year....It's a wonderful "game"
@catch22, I looked at the distribution date myself but didn't catch myself in this thread.