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Quantitative screens narrow down attractive closed-end funds for further due diligence and investigation. The "Quality" report focuses on funds with coverage exceeding 100% to lower the risk of distribution cuts. The report provides rankings for the widest quality discounts, best quality z-scores, highest quality yields, and best combination of quality yield, discount, and z-score.
Highland Opportunities and Income Fund provided an opportunity as it cut its income. HFRO fund tanked 16% and widened the discount to NAV to almost 50%. We examine the "why" and give you our take.
Highland Opportunities and Income Fund is a closed-end fund that invests in various asset classes, including real estate, CLOs, equity, and loans. HFRO pays an 11.59% distribution and trades at a 37% discount. HFRO often has large swings in its discount to NAV, and can be an excellent trading vehicle.
Did you miss out? Have cash suddenly burning a hole in your pocket?
Only funds with yields over 8%, coverage higher than 90%, and trading at a discount are considered. Top lists of discount, yield, DxY, and DxYxZ are given. The top DxYxZ funds from this month's report are HFRO, BANX, and FPF.
Quantitative screens narrow down attractive closed-end funds for further investigation. "Quality" report focuses on funds with >100% distribution coverage to lower the risk of distribution cuts. Top lists provide shortlists for further research, not final buy or sell decisions.
Daily market opportunities can be enticing, but it's important to question why an opportunity is available in the first place. A fund that has outperformed its benchmarks is trading at a significant discount. Understanding the reasons behind the discount can help investors make informed decisions.
Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given. Top DxYxZ funds are HFRO, PFO and HNW.
Only funds with yields over 8%, coverage higher than 90%, and trading at a discount are considered. Top lists of discount, yield, DxY, and DxYxZ are given. The top DxY funds are HFRO, JSD, and JRO.
Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given. Top DxYxZ funds are HFRO, HNW and BGX.