Western Asset Mortgage Opportunity Fund

Western Asset Mortgage Opportunity Fund, Inc. engages in seeking capital appreciation and provision of current income. It invests in a diverse portfolio of mortgage-backed securities which includes non-agency residential and commercial mortgage-backed securities. The company was founded on December 11, 2009 and is headquartered in New York, NY.

NEW YORK--(BUSINESS WIRE)--Category: Financials.

Western Asset Mortgage Opportunity Fund Inc. Announces Financial Position as of September 30, 2024

Western Asset Mortgage Opportunity Fund has outperformed since its initial "Buy" rating. The fund has reached fair value, and future returns will primarily come from dividends. DMO remains focused on non-agency RMBS bonds and GSE risk transfer securities, which carry credit risk.

DMO: Back To Fair Value And A 12% Yield (Rating Downgrade)

BlackRock MuniVest Fund Inc

We review CEF market valuation and performance through the first week of July and highlight recent market action. All CEF sectors finished the week in the green, with fixed-income CEF sector discounts now expensive and equity CEF sector discounts somewhat cheap. Saba and BlackRock came out with differing press releases on the latest proxy votes over board membership and termination of CEFs.

CEF Weekly Review: Saba/BlackRock Feud Escalates

Western Asset Global Corp Defined Opportunity Fund Inc

We review CEF market valuation and performance through the last week of June and highlight recent market action. CEFs were mostly up on the week with MLP and Hybrid sectors leading the way. Western Asset Global Corporate Defined Opportunity Fund holding a tender offer for all shares at NAV, following Nuveen's approach.

CEF Weekly Review: Western Asset Is Doing A Nuveen

Western Asset Mortgage Opportunity Fund has increased its distribution for the fourth consecutive time. DMO primarily allocates to non-agency residential mortgages, with a smaller holding in commercial mortgages. The fund's net income has been steadily rising, driven by floating-rate holdings and increased borrowings.

DMO: Another Distribution Hike For This 13.2%-Yielding Mortgage CEF

Western Asset Mortgage Opportunity Fund Inc. Announces Financial Position as of March 31, 2024

Western Asset Diversified Income Fund

We review CEF market valuation and performance through the fourth week of April and highlight recent market action. CEFs were mostly up on the week, however remain in the red through the month. Investors should evaluate funds based on historic total NAV return and individual features, rather than price behavior.

CEF Weekly Review: Price Chart Is Not A Good Guide To CEF Allocation

NEW YORK--(BUSINESS WIRE)--Effective March 1, 2024, the named portfolio management team responsible for the day-to-day oversight of the Fund is as follows:

Western Asset Mortgage Opportunity Fund Inc. (NYSE: DMO) Announces Portfolio Management Team Update

Western Asset Mortgage Opportunity Fund Inc. is a fixed income CEF focused on mortgage bonds that offers a supported 12% yield. DMO pursues a different strategy than most mortgage funds by purchasing junior and subordinated tranches of MBS bonds, taking true credit risk. The housing market is currently 'stuck' rather than experiencing a collapse, which is favorable for DMO's collateral.

DMO: 12% Yielding GSE Risk Transfer Mortgage Fund (Rating Upgrade)

Western Asset Global High Income Fund

Western Asset High Income Opportunity Fund Inc

Western Asset High Income Fund

Western Asset High Yield Defined Opportunity Fund Inc

Western Asset Investment Grade Defined Opportunity Trust

Western Asset Municipal High Income Fund

Western Asset Managed Municipals Fund

Western Asset

NEW YORK--(BUSINESS WIRE)--Category: Distribution Related.

Franklin Templeton Fund Adviser, LLC Announces Distributions for the Months of March, April and May 2024

Eaton Vance Enhanced Equity Income Fund

Eaton Vance Risk-Managed Diversified Equity Income Fund

Eaton Vance Tax-Managed Diversified Equity Income Fund

Pioneer Diversified High Income Trust

Invesco High Income 2024 Target Term Fund 

Nuveen Mortgage Opportunity Term Fund

Principal Real Estate Income Fund

Taiwan Fund

For the first month in three, equity CEFs (-0.59% on a NAV basis) suffered losses while their fixed-income CEF (+0.49%) counterparts on average posted plus-side returns. At month-end, 11% of all CEFs traded at a premium to their NAV, with 12% of equity CEFs and 10% of fixed-income CEFs trading in premium territory. Income & Preferred Stock CEFs (+1.44%), for the first month in four, outpaced the other classifications in the equity CEF universe for January.

The Month In Closed-End Funds: January 2024

Ares Dynamic Credit Allocation Fund

BlackRock 2037 Municipal Target Term Trust

Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.

Nuveen AMT-Free Municipal Value Fund

Flaherty & Crumrine Preferred Income OpportunityFund Inc

The price action in the CEF market over the last few months has been fast and furious. We revisit the key decision factors of income investing that can streamline and organize the allocation process as applied to CEFs.

Key Decision Factors For CEF Allocation In Today's Market

DMO allocates primarily to residential mortgage assets. It has delivered a third distribution hike in a row, equating to a 13.4% yield on price. The fund's primarily residential mortgage allocation provides an attractive diversifier in income portfolios and is anchored off strong household credit metrics. We continue to hold the fund in our High Income Portfolio.

DMO: Another Distribution Hike For This 13.4% Yielding CEF, Though Likely Its Last

PIMCO Access Income Fund

PCM Fund

PIMCO Dynamic Income Fund

PIMCO Dynamic Income Opportunities Fund

PIMCO Income Strategy Fund

PIMCO Income Strategy Fund II

PIMCO Corporate & Income Opportunity Fund

We provide a July update for the PIMCO CEF taxable suite. Taxable coverage fell for the second straight month while tax-exempt coverage remained stable. PIMCO is doing a tender offer of their very expensive auction-rate preferreds.

PIMCO CEF Update: ARPS Go On The Chopping Block

Carlyle Credit Income Fund

We review CEF market valuation and performance through the first week of August and highlight recent market action. The CEF rally paused this week due to the Fitch downgrade and lower than expected jobs numbers. Investors and commentators often focus on the wrong risks of term CEFs.

CEF Weekly Review: The Real Risk For Term CEFs

We review CEF market valuation and performance through the last week of July and highlight recent market action. CEFs continued to march higher this week, closing out July in good form. CEF returns should be gauged in the context of the broader asset class rather than just within the narrow sector.

CEF Weekly Review: Don't Handicap CEF Returns

We last discussed DMO about a year ago, highlighting the strong potential for a dividend hike due to a rising net income trajectory. As expected, the fund has indeed hiked the distribution which, along with its wide discount, translates to a 11.55% current yield as of this writing. The fund's primarily residential mortgage allocation provides an attractive diversifier in income portfolios and is anchored off strong household credit metrics.

DMO: Recent Hike Pushes The Yield On This Mortgage CEF Above 11.5%

The Western Asset Mortgage Opportunity Fund has seen its discount narrow from the deepest levels it was at previously. The fund increased its distribution despite coverage still coming in light, though the good news is seeing NII increase due to floating rate exposure. DMO's portfolio is made up of both residential and commercial MBS exposure, as well as some smaller allocations to other asset-backed securities.

DMO: Discount Narrowing Drives Results

Franklin Templeton Emerging Markets Fund

LMP Capital and Income Fund

Franklin Templeton Emerging Markets Income Fund

NEW YORK--(BUSINESS WIRE)--The following Funds announced today their share repurchase activity during the second quarter of 2023.

Franklin Templeton Closed-End Funds Announce Share Repurchases for the Second Quarter of 2023

Blackstone/GSO Senior Floating Rate Term Fund

Credit Suisse Asset Management Income Fund

Credit Suisse High Yield Bond Fund

Allspring Income Opportunities Fund

Allspring Global Dividend Opportunity Fund

Wells Fargo Utilities and High Income Fund

Invesco High Income 2023 Target Term Fund

Nuveen Preferred & Income Term Fund

Nuveen Preferred & Income 2022 Term Fund

We review CEF market valuation and performance through the third week of May and highlight recent market action. CEFs were mostly down on the week as rising Treasury yields were the key headwind.

CEF Weekly Review: Term CEFs Continue To Be Misunderstood

Bancroft Fund Ltd

Center Coast Brookfield MLP & Energy Infrastructure Fund

ClearBridge Energy MLP Total Return Fund Inc

Destra Multi-Alternative Fund

DNP Select Income Fund Inc

Blackrock ESG Capital Allocation Trust

Eagle Point Credit

Eagle Point Credit Company Inc - 6.6875% NT REDEEM 30/04/2028 USD 25

Eaton Vance Enhanced Equity Income Fund II

Aberdeen Global Income Fund

First Trust Dynamic Europe Equity Income Fund

FS Credit Opportunities Corp

GDL Fund

Gabelli Multimedia Trust

Guggenheim Strategic Opportunities Fund

Gabelli Utility Trust

Highland Income Fund

Highland Global Credit Allocation Fund.

Voya Global Advantage and Premium Opportunity Fund

Voya Global Equity Dividend and Premium Opportunity Fund

CBRE Global Real Estate Income Fund

Discounts/premiums are one of the most important metrics for CEFs that can provide opportunities for investors. Closed-end funds often see expanded discounts during volatile years, which we experienced in 2022.

Closed-End Fund: April 2023 Check On Valuation

DMO is invested in mortgages, both residential and commercial MBS, as well as other mortgage-related debt securities. With all the uncertainty, a wider discount could be appropriate as credit risks become a real issue.

DMO: Deeper Discount, But Risks Also Increase

John Hancock Investors Trust

John Hancock Income Securities Trust

Virtus AllianzGI Convertible & Income Fund

Virtus AllianzGI Convertible & Income Fund II

We review CEF market valuation and performance through the second week of March and highlight recent market action. CEFs mostly struggled, outside of the higher-quality sectors as two bank failures spooked markets.

CEF Weekly Review: More Of The Same On The Distribution Front

Angel Oak Financial Strategies Income Term Trust

KKR Income Opportunities Fund

We review CEF market valuation and performance through the third week of January and highlight recent market action. CEFs had another strong week with most sectors seeing both NAV gains and discount tightening.

CEF Weekly Review: Wide Discounts Make Rights Offerings Necessary

ClearBridge Energy MLP Fund Inc

ClearBridge Energy MLP Opportunity Fund Inc

NEW YORK--( BUSINESS WIRE )--The following Funds announced today their share repurchase activity during the fourth quarter of 2022.

News for Western Asset Mortgage Opportunity Fund ETF (DMO)