Western Asset Mortgage Defined Stock News

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. Invest

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

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

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 pr

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 exp

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 jo

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 sh

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, alon

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, thoug

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.

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 be

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 sp

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 t

2 out of 23 CEF sectors were positive on price and 2 out of 23 sectors were positive on NAV last week. VFL offers tender results.