-
Posted by
Two Blokes Jul 13 -
Filed in
Stock
-
5 views
PHD offers a high yield (~9%), but recent dividend cuts and a narrowing discount to NAV warrant caution before initiating a new position. Performance has been strong since 2022, but falling interest rates since late 2024 have pressured distributions, making future income less certain. The fund's discount to NAV has shrunk from -11% to -2%, reducing its margin of safety compared to historical averages.
