|Last Price$30.75||Day Change (%)0.89%|
|Open Price$30.45||Day Change ($)0.27|
|Day Range30.40–30.78||52-Week Range25.69–38.09|
As of Fri 08/29/2014 12:44 PM EST | USD
Managed High Yield Plus Fund Inc. – Fund Commentary and Portfolio Statistics
We believe PPL is a good candidate at the right price for a core holding in an income portfolio.
Interest rate fears have weighed on the sector's absolute performance, but utilities' fundamentals remain strong for the most part.
Corporate credit spreads are fairly valued--albeit at the tight end of the range that we view as fairly valued.
Its discount to peers neglects its steady cash flows and option value.
Rising interest rates have taken their toll, but as the Fed delays dialing back on stimulus, investors are poised to recapture some of their losses.
The corporate bond market will probably struggle to return much above break-even in 2014.
With interest rates rising, will dividend yields keep utilities afloat?
Widening investment-grade credit spreads and rising interest rates lead to losses.