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Weekly Review: High-Yield CEFs - PCF Announced Its Dividend For The Next 3 Months

Published Tue, 01 Oct 2019 11:56:49 -0400 on Seeking Alpha

Introduction
The closed-end funds from the high-yield sector significantly increased their prices over the past 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. For me, personally, I am in a waiting mode to see a statistical opportunity to review some of the funds.
The Benchmark
Over the last week of the third quarter, the high-yield bonds reported a slight decrease in their prices. The market participants were monitoring the impeachment inquiry against President Donald Trump and are looking ahead to a resumption of trade talks between the U.S. and China on October 10. It is logical before such an event the investors to be more passive to riskier assets such as high-yield bonds. Тhe main benchmark iShares iBoxx $ High Yield Corporate Bond ETF (HYG), which we use to track the high-yield bonds, fell by $0.41 per share and finished the Friday session at $87.07 per share.

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 U.S. Treasury bond. High-yield spreads are used by investors and market analysts to evaluate the overall credit markets. Higher spreads indicate a higher default risk... 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
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):
Weekly Review: High-Yield CEFs - Lack Of Significant Changes Among The Funds
Weekly Review: High-Yield CEFs - The Benchmark Is Close To Its Highest Annual Levels
BNY Mellon High Yield Strategies Fund Declares Dividend
Weekly Review: High-Yield CEFs - The Market Participants Were Interested In Higher Yields
Weekly Review: High-Yield CEFs - The Benchmark Increased Its Price
BNY Mellon High Yield Strategies Fund Declares Dividend
Weekly Review: High-Yield CEFs - Most Of The Funds Have Increased Their Net Asset Values
BNY Mellon High Yield Strategies Fund Declares Dividend
Weekly Review: High-Yield CEFs - FSD Increased Its Dividend For August
BNY Mellon High Yield Strategies Fund Declares Dividend

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