PIMCO Floating Rate Strategy Fund (PFN)

investorpoet2 (81.25) Submitted: 9/17/2009 9:59:52 AM : Start Price: $9.03 PFN Score: +6.31

I'm adding PIMCO Floating Rate Strategy Fund (PFN) today just to keep a close eye on it. It's trading very near its net asset value, so not much value there. However, it has a 8.23% dividend yield.

This is a closed-end fund that invests in floating rate debt instruments. I could be wrong on this, but shouldn't that yield grow in an increasing rate environment? With rates at historic lows, that growing yield should be nice in the long-term.

d3wilbur (< 20) Submitted: 9/18/2008 6:14:25 PM : Start Price: $11.90 PFN Score: +0.65

Some things are cheap for a reason. This is a Junk Bond Fund. It has more risk than your average stock fund, a shameless expense ratio, and a terrible track record.

Don't let your Full-Commission Broker talk you into buying this garbage.

idefix04 (< 20) Submitted: 2/14/2008 1:17:27 AM : Start Price: $11.21 PFN Score: +3.98

Man this is cheap. Jump on board with Bill Gross, my friend, and earn a 12% return on your investment right off the bat. Easy money.