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Weekly Review: High-Yield CEFs - IVH Is An Attractive Combination Of Discount And Current Yield

Published Thu, 04 Apr 2019 09:48:00 -0400 on Seeking Alpha

Introduction
The closed-end funds from the high-yield sector significantly increased their prices over the past three months. Currently, most of them are traded at positive Z-scores, which is an indication that they have lost most of their statistical edge. Still, they are traded at high discounts, but we are cautious when we select our positions due to the lack of statistical edge. I still see several interesting buying opportunities in the sector, which I am going to discuss with you in this article. Ivy High Income Opportunities Fund (NYSE: IVH) is one of the funds which caught my eye. It offers an attractive current yield and is traded at a high discount.
The Benchmark
The iShares iBoxx $ High Yield Corporate Bond ETF (HYG) continues its climbing after another positive week in its records. The price of the main benchmark rose by $0.63 to finish the week at $86.47 per share. We find key resistance levels around the levels of $86.50 per share, which were tested several times in 2018 and were not broken. So, it is very interesting to see if the benchmark of the high-yield bonds can make it this time. If we see a breakout in the next several weeks, this may be accepted as an indication for the confidence in the credit stability of the companies and their high-yield bonds.

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... 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
CS HIGH YIELD BOND FUND 2.58   0.0 0.00 0.00 8.87
WELLS FARGO ADV INCOME OPP FUND 8.20   0.0 0.00 0.00 8.61
BLACKROCK CORPORATE HIGH YIELD FUND VI 10.76   0.0 0.00 0.00 8.01
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
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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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