PCMI

PCM, Inc

PCMI

Delisted

PCMI was delisted on the 29th of August, 2019.

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Consumer Discretionary Internet Retail

Financial journalist opinion

PIMCO CEF Update: The Hammer Comes Down On RCS And PCM

PIMCO delivered two big distribution cuts for RCS and PCM. Key factors influencing distribution sustainability include borrowings, leverage, NAV distribution rates, and fees, with NAV distribution rate being the most critical. PDI, despite being in the danger zone, avoided cuts likely due to its flagship status, though its NAV has declined and will likely keep declining.

PIMCO CEF Update: The Hammer Comes Down On RCS And PCM

PCM: Buying After Distribution Cuts Should Be Done Carefully

The PCM Fund aims for high current income by investing in agency-backed MBS, non-agency MBS, investment-grade and high-yield corporate debt, and commercial mortgage-backed securities. Historically, I avoided leveraged CEFs like PCM due to the unfavorable risk-reward profile during the Fed's rate hikes and yield curve inversion. My caution was justified as PCM's returns have been flat over the past 2.5 years, under-performing other risk assets.

PCM: Buying After Distribution Cuts Should Be Done Carefully

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