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I am so confused. I thought declaration was a while ago (per their site, ex date 6/8, record date 6/12, payment Monday). Also stocks typically drop post-div (I know this is not that, but it is cef). Hmm.
@davidmoran, I take it you mean the price today, the 30th? Strong possibility it was just buyers helping it catch up with the premium narrowing of the 29th, when the NAV was up 1% and price flat. None of the other Pim MS CEF NAVs were up nearly that much - second highest was 0.2% for PCM, and most of the others were flat. So the NAV jump must have been something specific to PDI, but what, who knows?
Might also have been a bit of the T dip buying involved, which bumped some CEFs today, including some munis. PCI, which did well on price today too, not so great on NAV yesterday, had been lagging a bit for a while, so maybe PCI also caught a bid based on the combination of those two things - recent lag, T dip buying.
Couldn't find any news of July dividends being declared - the month's divs are usually announced on the first biz day of the new month, same day as the previous month's payout, if I'm recalling the schtick correctly, e.g., here.
if you look at that delta historically, though, this separation overall remains a bit much.
True, and worth watching, but Pimco's CEFs can/have stayed in premium range for long periods because they're always among the best in the business - some of the older funds have spent most of their lives at premia.
About mid-month, Pim's monthly earnings etc. report comes out, and there's usually a lively chat about it then on the M* CEF forum, by people much further along on the learning curve than moi, if you're interested.
tnx I have read it, on occasion, perhaps thanks to your tipoff prior (?), and found it a little arcane for my presidential attention span
There ya go - just take a phrase out of context, so it's 180 degrees from reality, throw in an insult or two, and ... voila! you've got the making of a presidential-caliber tweet!
Comments
Not finding much new at
https://www.pimco.com/en-us/investments/closed-end-funds/dynamic-income-fund
or google finance
Might also have been a bit of the T dip buying involved, which bumped some CEFs today, including some munis. PCI, which did well on price today too, not so great on NAV yesterday, had been lagging a bit for a while, so maybe PCI also caught a bid based on the combination of those two things - recent lag, T dip buying.
Couldn't find any news of July dividends being declared - the month's divs are usually announced on the first biz day of the new month, same day as the previous month's payout, if I'm recalling the schtick correctly, e.g., here.
yeah, could not find anything along the lines of what Mark seemed to be talking about.
announce Mon, sure.
reexpanding / reset of premium after sudden narrowing, sure.
if you look at that delta historically, though, this separation overall remains a bit much.
anyway, I sold some for cashflow, and have bought some in other, rollover accounts, trading from PONDX.
About mid-month, Pim's monthly earnings etc. report comes out, and there's usually a lively chat about it then on the M* CEF forum, by people much further along on the learning curve than moi, if you're interested.
I have read it, on occasion, perhaps thanks to your tipoff prior (?), and found it a little arcane for my presidential attention span