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Weekly Review: High-Yield CEFs - 9% Yielder Is Traded At 14% Discount

Published Wed, 28 Nov 2018 16:33:37 -0500 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 As you know, on Black Friday you can buy cheaper. This was valid for the iShares iBoxx $ High Yield Corporate Bond ETF (HYG), as well. On a weekly basis, the price of the benchmark fell by $0.56 after another sell-off in the stock market. The trust in the equities and credit situation remains weak. The main index of high-yield sector reached its lowest level for the last three years. The previous time when we saw hitting of this price level was at the end of 2015.

Source: Barchart, iBoxx $ High Yield Corp Bond iShares
Statistical Comparison And Spread Review Of The Sector High-yield bonds are typically evaluated on the difference between their yield and the yield on the US Treasury bond. High-yield spreads are used by investors and market analysts to evaluate the overall credit markets. Higher spreads indicate... 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
PIONEER HIGH INCOME TRUST 9.29   0.0 0.00 0.00 8.72
CREDIT SUISSE ASSET MANAGEMENT INCOME FUND 3.16   0.0 0.00 0.27 8.52
MASSMUTUAL CORP INV 16.54   0.0 0.00 1.20 7.27
ALLIANCEBERNSTEIN GLOBAL HIGH INCOME FUND 11.78   0.0 0.00 0.00 6.68
ISHARES IBOXX $ HIGH YIELD CORPORATE BOND FUND 87.32   0.0 0.00 4.60 5.27
SPDR S&P 500 ETF 301.29   0.0 0.00 5.42 1.82

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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