Pioneer Diversified High Income Fund

HNW

Market cap $107M

BOSTON--(BUSINESS WIRE)--Each of Pioneer Diversified High Income Fund, Inc. (HNW) and Pioneer High Income Fund, Inc. (PHT) announced today that the fund liquidated as planned on September 25, 2025 and the proportionate interests of stockholders in the assets of each fund were determined as of that date. Prior to the opening of business on September 26, 2025, HNW will cease trading on the NYSE American (NYSEAMER) and PHT will cease trading on the New York Stock Exchange (NYSE). Each fund's prima.

This report screens ~400 closed-end funds (CEFs) for those with 100%+ net investment income coverage, highlighting lower risk of distribution cuts. Top lists identify CEFs with the widest discounts, most attractive z-scores, highest covered yields, and best combinations of value and income. Investors are encouraged to use these rankings as a starting point for due diligence, not as final buy or sell recommendations.

BOSTON--(BUSINESS WIRE)--Pioneer Diversified High Income Fund, Inc. (HNW) announced the results of its special meeting of stockholders originally held on July 17, 2025 and adjourned until August 13, 2025. At the fund's special meeting, stockholders approved the liquidation and dissolution of the fund pursuant to the Plan of Liquidation and Dissolution adopted by the Board of Directors of the fund. Pursuant to the Plan, the fund will liquidate its portfolio in preparation for one or more distrib.

Pioneer Diversified High Income Fund offers a 9.66% yield, outperforming bond indices but ranking mid-pack among peer high-yield CEFs. The fund's distributions are sustainable, unlike some of its peers that over-distribute and erode capital. There is a very real risk that bonds will not perform as well as some investors and analysts expect in the event of further interest rate cuts from the Fed.

The Pioneer Diversified High Income Fund faces potential liquidation after Victory Capital's acquisition, as shareholders did not approve the new manager. Liquidation offers arbitrage opportunities by buying below NAV and potentially profiting if liquidation proceeds at NAV, despite market risks. The interim agreement allows Victory Capital to manage the fund temporarily, with liquidation as the likely outcome if shareholder approval isn't obtained.

Pioneer Diversified High Income Fund, Inc. has delivered a 15.4% total return since our last article, matching the S&P 500. Amundi is proposing a management change for HNW, trying to sell its CEF business to Victory Capital, a Texas-based manager. The corporate action is subject to shareholders approval, and we would expect a 'sweetener' before agreeing to the proposed amendment.

BOSTON--(BUSINESS WIRE)--Amundi US today announced a proposed transaction affecting the following Pioneer closed-end funds: Pioneer Diversified High Income Fund, Inc. (NYSEAMER: HNW) Pioneer Floating Rate Fund, Inc. (NYSE: PHD) Pioneer High Income Fund, Inc. (NYSE: PHT) Pioneer Municipal High Income Advantage Fund, Inc. (NYSE: MAV) Pioneer Municipal High Income Fund, Inc. (NYSE: MHI) Pioneer Municipal High Income Opportunities Fund, Inc. (NYSE: MIO) Amundi Asset Management US, Inc. (the “Advise.

The Pioneer Diversified High Income Fund, Inc. offers a 9.43% yield, comparable to its peers in the income-oriented bond closed-end fund sector. The HNW closed-end fund has experienced a decline in share price over the past three years, but distributions have offset the decline and provided a 5.06% total return. The fund primarily invests in high-yield corporate bonds and employs leverage to boost its effective yield, but its leverage level is in line with peers.

For the first month in three, equity CEFs (-0.59% on a NAV basis) suffered losses while their fixed-income CEF (+0.49%) counterparts on average posted plus-side returns. At month-end, 11% of all CEFs traded at a premium to their NAV, with 12% of equity CEFs and 10% of fixed-income CEFs trading in premium territory. Income & Preferred Stock CEFs (+1.44%), for the first month in four, outpaced the other classifications in the equity CEF universe for January.

The Pioneer Diversified High Income Fund is a fixed income CEF with a unique mix of asset classes with low correlations to each other. The vehicle's low volatility is attributed to its holdings of catastrophe bonds, which are not affected by traditional economic conditions. The fund's discount to NAV has narrowed, but US high yield spreads are now too low, leading to a downgrade in rating.