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Pimco New York Municipal Income Fund III V.PYN


Primary Symbol: PYN

PIMCO New York Municipal Income Fund III (the Fund) is a non-diversified closed-end management investment company. The Fund's primary investment objective is to seek to provide current income exempt from federal and California income tax. Under normal circumstances, the Fund invests at least 90% of its net assets in municipal bonds which pay interest that is exempt from regular federal, New York State and New York City income. The Fund may invest up to 20% of its total assets in investments the interest from which is subject to the federal alternative minimum tax. The Fund also invests at least 80% of its net assets in municipal bonds that at the time of investment are investment grade quality. Pacific Investment Management Company LLC (PIMCO) serves as the Fund's investment manager.


NYSE:PYN - Post by User

Comment by Herviovon Nov 06, 2012 3:54pm
223 Views
Post# 20569282

RE: Opti and others got money for shareholders

RE: Opti and others got money for shareholders

This might appear counterintuitive, but the fact that the company was not making any money CAN (as in "it is possible that...") support the idea that shareholders might get something out of poynt. The reasonning is, assuming that the company's value lies in its patents and infrastructure that could be recycled by a company with more income (actual or potential), the cause of the bankruptcy is the company's inability to pay back its debts in the foreseable future and not the worth or absence of worth of its assets. Henceforth, it is legitimate to speculate that the liquidation of the assets MIGHT generate enough proceeds to give something around the last price of the stock to common shareholders.

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