Closed end funds? Pioneer High Income Trust?

Pioneer High Income Trust

ticker symbol: PHT

It is an investment company that invest in debt securities and loans and the those types of things. It looks fairly diversified.

What I was looking at is the 11.2% dividend. It seems like a good storage place for 2-3 year money.

It was fairly stable until this whole credit melt down thing. Now its down like 20%.

Is any one familiar with PHT or these close end funds? Comments? insight? risk?

thanks a mil

Look at the holdings. See how many of them are distressed companies. There are many companies with double digit dividend "rates" that will suspend or cut their dividends. You should look for a price below par value for a closed end fund in a battered sector. If you are not getting a discount, I would choose individual stocks instead.

I would consider this investment some what flyer money and would limit my exposure to 10% max of stock/mutual fund assets.

sounds ok at first glance but how much of your invertment pot are your thinking of sinking into it == i would not go over 15% == if it bottoms out than you will not be in to bad shape and can use it as a tax offset!!!!