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Weekly Review: High-Yield CEFs

Published Wed, 04 Jul 2018 02:12:21 -0400 on Seeking Alpha

Introduction The opportunities in closed-end funds over the last few months caught the eye of many investors. Most of these products are designed to provide a steady stream of income, usually on a monthly or quarterly basis, as opposed to the biannual payments provided by individual bonds. And this feature continues to attract market participants even when the overall market looks unstable.
In spite of CEFs being mostly of interest to income investors, we have found our path to approach them as active traders and we are constantly monitoring them. As a testament to this, you will be kept up to date with Weekly Reviews such as the one below.
The Benchmark
Source: Barchart, iBoxx $ High Yield Corp Bond iShares
The main index for high-yield closed-end funds is the iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA: HYG). Over the past week, the price of the benchmark tanked and we saw a decrease of $0.83 for the past five days. Definitely, a serious decline but from a technical perspective, it does not seem so surprising. The chart shows that we have a depicted price range since the beginning of the year. We did not see a test of the psychological level around $86.50 and after these five red bars, we may expect a test of the support level around $84.95.
As you can see the price of the iShares iBoxx $ High Yield Corporate Bond ETF is very volatile and sometimes it is difficult to find a fundamental reason behind these directional movements. Because the... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
DREYFUS HIGH YIELD STRATEGIES 3.07   0.0 0.00 0.27 9.63
MFS INTERMEDIATE HIGH INCOME FUND 2.68   0.0 0.00 0.00 9.08
FIRST TRUST HIGHOME LONG/SHORT FUND 14.97   0.0 0.00 0.00 8.82
WELLS FARGO ADV INCOME OPP FUND 8.20   0.0 0.00 0.00 8.61
FIRST TRUST STRATEGIC HIGH INCOME FUND II 12.35   0.0 0.00 0.00 7.77
NEUBERGER BERMAN HIGH YIELD STRATEGIES FUND 12.01   0.0 0.00 0.98 7.45
WESTERN ASSET HIGH INCOME OPPORTUNITY FUND 5.07   0.0 0.00 0.00 6.98
ISHARES IBOXX $ HIGH YIELD CORPORATE BOND FUND 87.32   0.0 0.00 4.60 5.27

DREYFUS HIGH YIELD STRATEGIES - DHF
DREYFUS HIGH YIELD STRATEGIES - DHF  


Older articles featuring Dreyfus High Yield Strategies (DHF):
BNY Mellon High Yield Strategies Fund Declares Dividend
BNY Mellon High Yield Strategies Fund Declares Dividend
BNY Mellon High Yield Strategies Fund Declares Dividend
BNY Mellon High Yield Strategies Fund Declares Dividend
BNY Mellon High Yield Strategies Fund Declares Dividend
BNY Mellon High Yield Strategies Fund Declares Dividend
BNY Mellon High Yield Strategies Fund Declares Dividend
BNY Mellon High Yield Strategies Fund Declares Dividend
BNY Mellon High Yield Strategies Fund Declares Dividend
BNY Mellon High Yield Strategies Fund Declares Dividend

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