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Posted by
Two Blokes Jun 27 -
Filed in
Stock
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5 views
PFD offers attractive income with a 6.7% yield and monthly distributions, but its dividend history is inconsistent and payouts have been reduced over time. The fund's heavy use of leverage and focus on preferred securities make it highly sensitive to the current high interest rate environment, suppressing its valuation. PFD trades at a notable 9.2% discount to NAV, which could present an accumulation opportunity if interest rates decline and earnings improve.
