Quick Note: The Top 10 “High Income NOW” Tear Sheet has been updated for July (and it can be accessed below). There were a few minor updates. For example, we added to a big-yield municipal bond CEF (as an honorable mention) because of management’s announced efforts to reduce the price discount), and we added to a top BDC that recently sold off (as it presents an attractive buying opportunity after a price decline).
Here is the link:
Blue Owl Capital (OBDC), Yield: 9.6%: We added this healthy growing top BDC after it missed earnings in May and the shares have continued to fall thereby creating an attractive buying opportunity at 1.0x book value.
Adams Diversified Equity Fund (ADX), Yield: 8%+: We still really like this big yield equity fund as management announced a yield increase (now at least 8% per year, up from 6%) and they are going to actively buy shares (in a strategy to reduce the price discount—a good thing) starting July 5th.
Nuveen Quality Municipal Bonds (NAD), Yield: 7.8%: We added this fund as an honorable mention. Municipals bonds are generally exempt from federal tax (Do NOT buy in an IRA), plus NAD trades at a historic (attractive) discount to NAV. And management just hiked the distribution to reduce discount.
You can view the High-Income NOW Top 10 Tear Sheet here: