Larry Berman CFA, CMT, CTA Pimco High Income Fund PHK-N COMMENT Nov 09, 2020

The difference between closed and open is that for closed, there are no new stocks issued. It can sometimes trade at a premium, but more often at a discount to net asset value. An open ended fund can issue new units. There is often an element of leverage or covered call strategy to extract extra yield for securities that have high yields. Does not know specifically for PHK's strategy.