In short: Being added alongside PDO and PAX — the PIMCO closed-end funds that "now trade at discounts to their NAV, which they haven't traded in many months," paying roughly 13% monthly with duration below TLT and "a little bit of leverage." Listed in his closing count of actionable income names: "RWT, RWTQ, PDO, PDI, and PAX are just some examples of where you can earn 13%, without taking a boatload of risk." (He names PAX and PDO as the ones he has personally been adding.)
PDI is a sister fund to PDO, also run by PIMCO and also traded on the exchange. It invests in a broad mix of higher-yielding bonds and mortgage securities, uses some borrowing to increase income, and pays a monthly distribution of roughly 13% a year. Like its siblings it has slipped from trading above the value of its holdings to trading below it. Singh lists it with PDO and PAX as part of an income sleeve he is building while interest rates are high.
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