Western Asset Investment Price, Forecast, Insider, Ratings, Fundamentals & Signals

Kansas city, mo.--(business wire)--corenergy infrastructure trust, inc. ("corenergy" or the "company") today announced financial results for the second quarter, ended june 30, 2020. second quarter performance summary second quarter financial highlights, including the impact of the net loss from events surrounding the sale of the pinedale liquids gathering system (lgs) asset, are as follows: for the three months ended june 30, 2020 per share total basic diluted net income (loss) (attributable to common stockholders)1 $ (139,744,105 ) $ (10.24 ) $ (10.24 ) nareit funds from operations (nareit ffo)1 $ 10,775,168 $ 0.79 $ 0.79 funds from operations (ffo)1 $ 10,775,168 $ 0.79 $ 0.79 adjusted funds from operations (affo)1 $ (291,172 ) $ (0...

Clarion partners real estate income fund inc. (“cpreif” or the “fund”) announced today the results of its issuer tender offer for up to 5.0% of the fu

Western asset global high income fund inc. (nyse: ehi) announced today that the fund’s board of directors has authorized (subject to certain condition

Western asset investment grade income fund inc. (nyse: pai) today announced the financial position of the fund as of march 31, 2020. current q previou

Western asset intermediate muni fund inc. (nyse: sbi), western asset managed municipals fund inc. (nyse: mmu), western asset municipal partners fund i

4 Closed-End Fund Buys In The Month Of March 2024

The Western Asset Investment Grade Income Fund has a lower yield than most fixed-income closed-end funds and money market funds. The fund has outperformed the Bloomberg U.S. Aggregate Bond Index over the past six months, but it was beaten by some other investment-grade CEFs. The fund's strategy primarily focuses on investing in long-dated investment-grade bonds, which exposes it to interest rate risk.

The broader market has continued its march higher throughout February, reaching new record highs. Despite the market continuing to move higher, I believe there are still opportunities to put cash to work.

5 Closed-End Fund Buys In The Month Of January 2024 (Includes 2 Swaps)

I have a total of 41 positions in my closed-end fund portfolio, with the top ten positions making up 36.52% of the portfolio. We have four new names making their way to my top ten list since the prior update, but three were already positions that have simply grown to be larger allocations. Closed-end funds overall look to be a place of opportunity as discounts remain historically wide across both equity and fixed-income-focused funds.

Western Asset Investment Grade Income Fund's latest report reflects an increase in income generation year-over-year and quarter-over-quarter. The fund's discount remains attractive relative to its historical levels, making it a potentially attractive investment choice for conservative investors. PAI has increased its distribution and has a fully covered payout ratio, providing income for investors while waiting for potential appreciation and discount contraction to drive total returns.

The market is anticipating rate cuts, which led to a rally in November as rates on risk-free Treasuries retreated. Closed-end funds present good investment opportunities, trading at historically deep discounts. While the key theme this year had been primarily to avoid adding significant amounts of leverage, I made an exception with adding a PIMCO fund.

Investment-grade corporate-focused closed-end funds offer attractive fixed-income options with higher yields in the current higher-rate environment. Leverage and discounts/premiums in CEFs add volatility to consider when investing in these funds, which would otherwise be for more conservative investors. Besides the higher yields, when rates decline investment-grade funds should see a significant rebound, adding a catalyst for potential upside and 'locking in' higher yields now.

September was the worst month for equities in 2023, but that's simply creating buying opportunities for the long-term investor. I added to four different positions in my CEF portfolio this month, though they are all familiar names that I've already owned. The theme this month was once again avoiding taking on leveraged funds, and none of the four funds take on any leverage in the form of borrowings.

The Western Asset Inv Grade Income Fund Inc has a current yield of 4.96%, lower than most money market funds. The PAI closed-end fund has outperformed bond indices over the past year, but its low yield and limited potential for capital gains make it unattractive. The fund's use of leverage is relatively low, but it also limits its ability to provide a higher yield.