Pimco High Income Fund (NYSE:PHK)
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- jan2138: @jpeden $HIX $SRV $EOS $NEWT $PHK $TICC $PSEC The best way to stay on top of these is to read the earnings reports which offer the best clue as to the probability of their ability to maintain dividends. If you have the time, listening to the CC's hel ...
- jpeden: @jan2138 Thanks for your reply to my post on Wed.concerning yieldhogs. I wrote you concerning recent retirement and looking for income source. I replied but I must have done it wrong--it didn't show up I have stayed on top of the stocks I own ...
- henrik511: $PHK - Bill Gross leaving, but it is closed-end fund. Who ever is shorting this, this morning must be a moron. BUY!!!!!
- snmtraders: @henrik511 $PHK is at a 46% premium to NAV. It's ridiculous to pay $1.46 for $1.00 worth of assets imho. Bill Gross was the only reason it traded at such a premium, and now he is gone. I'd love to own puts on this, but they don't exist.
- jan2138: @yieldhogs: #Last night’s S.S.; just a few comments on some of the tickers Dan covered last night. $SDR is not on my list as I sold out on 1/31/14 @ $9.09. I posted my reasons in the Forum on that date. Remember, this is a U.S. Royalty Trust an ...
- jan2138: @rknight52: $PHK; don't follow this one. I have not because it trades at such a ridiculous premium to NAV. It is currently trading at a 53% premium to NAV which seems to me to be an accident waiting to happen. I know it has traded that way forever-the power of marketing and the Bill Gross name, but still, not one for me.
- rknight52: @jan2138 $PHK - thanks for picking up on that question from yesterday. It has payed a nice monthly dividend and also I still have capital gains, so thus far has been "no harm, no foul", but considering getting out of this one with such a high premium to NAV. When I got in, it wasn't that bad and it has been a nice monthly payor. Do you have any other list of similar high-yielders in the same type asset? I have enough mortgage REITs and looking for some steady, monthly payors. THanks for all you do here.
- jan2138: @rknight52 I think Gary posted my latest list of high yielders on the home page recently. You might take a look at $EDF; $ETW; $ETJ; $ETY; $EXG; $HNW which are index cef's. They do not yield nearly what you have in $PHK but have good distribution records and trade in line or at a discount to NAV. I have not checked the charts to see if there are entries.
- rknight52: $PHK @jan2138 What's going on here today? Can't find any news as to why the 4 % drop today.
- rtomczak: $MFA, $OXLC, $PDLI, $PHK, and $RCS are the only #yieldhogs I am holding. May actually roll proceeds fro $WIN, $TICC, and $PSEC sales into these stronger holdings. Adding to $BAX and $TBT on these pull backs as well. $TBT will be the big winner as interest rates rise.
- jan2138: $PHK @rtomczak: interesting, trading at a 47% premium to NAV. You are paying $1.47 for a $1,00 worth of assets.
- rtomczak: @jan2138 $PHK - Thanks for the heads up. I have owned this one for awhile. Need to scratch it off the list. I probably pulled trigger on $TICC too early. It has been a good holding and I should have just cut my position size. Will scale back in as market stabilizes.
- rtomczak: @jan2138 - I responded to your post back to me on PHK. I overacted on $TICC and probably PSEC. I had large positions and did not want to deal with psychological part of high dollar losses on small moves. In retrospect, I should have just cut my position size. On $PHK, had not looked at it for a while. Appreciate you pointing out $NAV premium.
- rtomczak: #yieldhogs - all of mine are down today - $PSEC, $VGR, $MFA, $OXLC, $PHK, $PDLI, $TICC, $T, and WIN. Did I miss a "taper announcement"? ECB cut rates. Would think this is a good time for helicopter Ben to not be out done.
- Poppy: #yieldhogs: $PHK I bit the bullet when this stock hit the skid in November and picked some up...it's been my best hogs so far..but now is probably not going to move much but yield is still good ~ 11.98% currently. Compare this one with JNK. I'm not familiar with JNK. If you want to get in, do scale in and buy as close to 50dma. May take a while. I agree with @ginny that $NLY was the worst performer for me too. $PSEC MHI are also good for me. pp
- Poppy: #yieldhogs: $NYMT @Dana - thanks for the news and the analysis...holding a good chunk of NYMT..with a little profits to go with the yield. $PHK is good to me since I caught it at the bloodbath level - now almost nosebleed...but still good to hold. Thanks for all you do for us...as always @poppy
- mharps: Yield Hogs: A lot of my mid and high yields looks promising- even the European stuff . These are all long term holds for me. $TOT, FTE, $PHK, KKPNY, $NAT SFL, $BWP, $SLRC, $MPW, $SDRL,GEL,NKA, $DCM,FGP,$AZN,CSQ, $NVS, LINE, CTL.CFD. Def a mixed bag and way too many but some are working nicely- and all are paying.
- markor01: $PHK, PGP....any thoughts? Run by Pimco with great monthly yields
- davidd: $PHK has one of the largest premiums (share price/ NAV) in the $CEF market segment. PHK's premium has continued to escalate and its stock price is 45.4% above its $NAV as at 7/15/2011# currently at its 52 week average. Its average discount/premium over past 5 years is 25%. On the fundamentals $PHK is over-valued. A majority of its portfolio is currently committed to financial companies with significant holdings in AIG. PHK's has a negative $0.2372 per share undistributed negative net investment income indicating it paid out more than its earned from recurring operations. Counterbalancing the fundamentals is its monthly average annualized distribution of 11.2% which now appears to be generated from recurring earnings. $PHK is personally managed by Bill Gross the founder of PIMCO, he owns approximately 206,600 shares.
- jan2138: @markor01: $PHK, PGP; look at the premiums to NAV- between 40 and 50%. Would you pay 1.40-1.50 for a dollar bill? All of these Pimco cef's trade at ridicuous premiums to $NAV because of the "name" factor and Bill Gross. At some point, these could correct, and I would not want to be around when that happens.
- iufan: @JAN2138 - $PHK oh, one other question. What do you think of this. It has an 11% #dividend and seems to he holding steady. I can't decide if a weak dollar is good for this fund. It is PIMCO and is buying $USD debt. what do you think. thanks again
- tradethebull: $PHK - Not @jan2138 Every time I look at the fundamentals on this one I don't get it. They have falling revenues and growing losses. They have some significant "other" losses. Net assets dropped from $2.7B to $0.7B in 2 years. Even though they have kept paying the #dividend I can't see how this part is going to last. Just one point of view but this one is not for me.
- dirk: $PHK - see the #squeeze but has not picked a direction likely because it's trading at almost a 40% premium over NAV. too much for me, there are many closed end funds doing as well (total return wise) without paying such a premium. Just my 2 cents. Dirk
- investorterry: Yield hogs# Recently @Jan2138 said that he was selling/reducing his positions in a couple hogs that had a nice run. I have $PHK which has had a good run (thanks @jan2138) and is at a 57% premuim to its NAV. My question to the yieldhoggers is: At what point do you say # let's ring the register and look for another hog# ? Not looking for a definitive answer here, just looking for ideas. Thanks @Terry
- investorterry: @Jan2138--Where do you find the 52 week avg NAV? I looked in CFE connect and could not find it. I put a close stop on $PHK and will continue to reap dividends until I don't. Thanks again. @Terry
- Poppy: #yieldhogs: @Dana, I came across $PHK at 10.3% - it's Pimco high yield fund. Do you have any opinion on junk bond funds as hoglets? I think Pimco is pretty reputable for their bond trades - Can we go wrong on this? I've taken a lot of your ideas into my long term thinking. Thank you for your contribution to SMM. @Poppy
- MissEllie: PHK-not Jan, but just wanted to note that $PHK trades at a pretty big premium to NAV. That said, it hasn't disappointed on the #dividend. I bought this last January and rode it to 10, then freaked out over the premium and sold it. It hasn't really wavered since, just pretty steady.
- Poppy: $PHK - MissEllie - thank you for your help. I watch this forever and couldn't decide what to do. will investigate further. @Poppy
- olblue: HIGH INSTITUTIONAL HOLDINGS > If 90% of a stock is being held by institutions, isn't the other 10% > at their mercy, so to speak? How is this information useful You are at their mercy. On the upside at 90% institutional ownership, if someone comes out with an upgrade, who is left to buy? Look at a minute chart on $PHK for 12/30. Bigcharts.com is one place to do that. A Pimco fund with only 8% institutional ownership. Somebody decided to sell 5-7x the daily float and the price dropped 25% in seconds. A stop at 11.5 might have been executed at 9! There were NO foxholes. If it were owned by 70% institutions, there would have been me too selling and it would be a $5 stock. @Henry
- bradleyrich: $PHK I'm not @Dan, but I am a long term owner of PHK. (I bought more yesterday) First, $PHK is not a stock, it's a closed end fund (CEF). As such it trades in the open market at a premium or discount to the actual value of the securities held in the ...
- jpeden: I assume then that $PKO is similar. This stock has not fallen which suggests that the fall in $PHK was from a large sell order
- Mercerbill: $PHK Thanks for you insight. Did not know of deterioration of underling value. Just eliminated a position held about five years.
- jpeden: I'm relatively new to the forum although I've been trading for 37 years. I have a core position in #dividend hog type stocks and then trade from there. I like stocks that pay dividends monthly so that if there is enough fluctuation in the stock i can trade in and out for small profits. My two main holdings are $PKO and PHK. Today while I was on the computer I saw $PHK fall dramatically as someone dumped a large holding. The stock dropped 3 points. Fortunately i was able to buy as much as i could as the stock started back up. It has settled about 11.10. It was over 12. I think this is still a great place to buy
- jdee: $PHK -- trouble in hogsville? Did anyone notice the huge swing in $PHK today? No good explanation available from what I can find, but it likes 4 million out 119 million shares traded in ten minutes and knocked the price down a dollar. see www.tinyurl.com/phkdrops
- jan2138: rknight: AOD; sorry, Ihave been out most of the day. I suggest you go to their website and listen to their last cc or read their report. I think a review of their methodology and business plan will allay some of your fears. That said, it is trading a ...
- jan2138: QQQX-@Dan covered this in his recap last evening. If you are long this or considering it, great yield @ 13.40%, be cognizant of the NAV. It is trading now at a 5.35% premium to NAV. Some of the more popular yield "plays" often attract traders who will take the market up without considering the underlying value of the assets. $PHK comes to mind-it is currently trading at better than a 50%, yes 50% premium to NAV. Long QQQX.
- jan2138: yield hogs:PHK: I posted on this one yesterday re the ridiculous premium the market price is to NAV. It is down, coincidentally over 4% today. I would suggest selling $PHK and buying $HIX which is yielding 15.94%, trading at a 2% premium to $NAV and has had a steady div. for the last 12 months. Also, it has a better chart.
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- tamgo: Div Hogs $PHK goes ex tomorrow trades at a premium to $NAV but at lowest since announcing div, about 16%, chart has some downside risk and would expect to see money come out after ex day. but yield could take it to the low $7 before u r under water. if it looks to be falling off a cliff from this level $8.62, I'll be out after ex day. but looks like a longer term play to me.
- tamgo: JAN PHK Thanks for this. I hear ya, I do. but looked at the assets and saw that most are long dated and Level 2. my thought here is that I am paying for yield and that the risk is default and decline in asset value that precludes them from paying #dividend. went through and saw that they have bought some protection and changed their terms a bit to allow for preferred conversion to common. I'm trading on their chart and on portfolio performance. I would not expect the market price to trade down to the $NAV because as long as the #dividend is constant, the yield would be too tempting. I will be watching for the repricing of the $NAV based on liquidity of assets. In the meantime, $PHK is holding just above my stop and I'm in small.
- jan2138: yield hogs: $PHK, a PIMCO high yld etf is one to watch to learn something. It pays dividends monthly and the current yld. at today's level is 18.35%. Looks good? The $NAV is about $5.85; market level is $ 7.96 and falling. Why would anyone buy $5.85 of assets and pay $7.96 for them, especially when those assets' values are probably a guess in many instances and optimistic at best. I plan to watch to see how long it takes for the values to come back into line so, the next time I happen to see something like this, I can take advantage of it.
- jan2138: sizzle: hi-thanks for your post. It has only recently moved to a premium. Many of these high yielding cef's have gapped up to a premium as the demand for yield has accelarated as investors become more comfortable with risk and move out of $MM funds a ...
- snmtraders: $PHK -- actually, they had to halt the #dividend payment. One of the Barron's RoundTable members noted this when Bill Gross was saying that he recommends PHK. Apparently closed end funds subject to selling had to meet regulations inplace that forced them to de-lever. So if assets fell 20%, say, and the fund is leveraged 50% they have to delever big time, which, for $PHK and others, meant halting the #dividend. I don't know how long this went on for, or even if or when they will pay out the divi again, but I suspect you can just go to the Pimco website for details.
- snmtraders: Thanks for the details, @jan2138, and I agree that the worry on $PHK would be on the humongous premium to $NAV, but just wanted to point out that they were forced to suspend their #dividend so this would be another thing to worry about if they had another sell off in their overvalued fund that might lead to another need to deleverage -- the old snowball effect.
| Stock Price | $4.79 |
| Change | 0.00% |
| Volume | 327,532 |
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