Triple-Factor Closed-End Fund Report, September 2026: HFRO's Discount Keeps Widening

Our Triple-Factor screen identifies closed-end funds combining a yield above 6.5%, distribution coverage above 90%, and a discount to NAV, screening over 400 CEFs as of the close of September 15, 2026. Portfolio holdings Highland Opportunities and Income (HFRO), BNY Mellon High Yield Strategies (DHF), PIMCO Dynamic Income Opportunities (PDO), and Blackstone Strategic Credit 2027 (BGB) all rank among this month's top lists. As a reminder, these top lists are meant to be preliminary shortlists for further research, and are not meant to be the final analysis for a buy or sell decision.

Seeking Alpha • Sep 25, 2026

Blackstone Credit & Insurance Closed-End Funds Declare Monthly Distributions

NEW YORK--(BUSINESS WIRE)--Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP (collectively, and together with their affiliates in the credit-focused business of Blackstone, Inc., “Blackstone Credit & Insurance”), announced monthly distributions for the three listed closed-end funds it advises, Blackstone Senior Floating Rate 2027 Term Fund (NYSE: BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX), and Blackstone Strategic Credit 2027.

Business Wire • Sep 11, 2026

Triple-Factor Closed-End Fund Report, August 2026: A Few Portfolio Holdings Stand Out

The Triple-Factor CEF screen systematically identifies funds with yields above 6.5%, coverage above 90%, and discounts to NAV for balanced income and value. BNY Mellon High Yield Strategies Fund and Flaherty & Crumrine Preferred Income Opp stand out for deep discounts, strong yields, and robust coverage. Negative z-scores highlight CEFs trading below historical valuation ranges, suggesting potential mean-reversion opportunities for sophisticated investors.

Seeking Alpha • Sep 3, 2026

Income-Covered Closed-End Fund Report, August 2026

Quantitative screens highlight CEFs trading at wide discounts, negative z-scores, and high yields, offering both value and income potential. Metrics like premium/discount, coverage, leverage, and z-score are used to shortlist funds for further due diligence, not as final buy/sell recommendations. Funds such as BGX, PFO, and EFT consistently rank highly across discount, yield, and coverage screens, warranting closer investor attention.

Seeking Alpha • Aug 30, 2026

BGX: Don't Bet On Distribution Hikes In The Near Term

The Blackstone Long-Short Credit Income Fund targets high current income via leveraged exposure to floating-rate senior loans and CLOs, yielding 9.09%. BGX's income and distribution sustainability hinge on interest rate direction; recent weak jobs data and political bias suggest rate hikes may be unlikely. Despite full net investment income coverage of distributions in 2025, BGX suffered capital losses and a 10.72% share price decline since May 2025.

Seeking Alpha • Aug 11, 2026

Triple-Factor Closed-End Fund Report, July 2026

The Triple-Factor CEF screen identifies funds with yields >6.5%, coverage >90%, and discounts to NAV, balancing income, sustainability, and value. Top candidates like BGX, DHF, and VVR offer deep discounts, strong coverage, and substantial yields, presenting both income and capital appreciation potential. Negative z-scores highlight CEFs trading well below historical valuation ranges, suggesting tactical buying opportunities for income-focused investors.

Seeking Alpha • Aug 8, 2026

Income-Covered Closed-End Fund Report, July 2026

The Income-Covered CEF Report screens for closed-end funds with distribution coverage above 100%, highlighting lower risk of distribution cuts. Top candidates include BGX, EFR, EFT, and BANX, offering deep discounts to NAV, strong yields, and full coverage—potential for price appreciation and enhanced yield. Composite metrics identify PGP, EFT, EFR, and BGX as especially attractive, combining high yield, significant discounts, and negative z-scores for relative value.

Seeking Alpha • Aug 2, 2026

The Triple-Factor Closed-End Fund Report, June 2026

The Triple-Factor CEF screen highlights funds with >6.5% yield, >90% coverage, and discounts to NAV, balancing income, sustainability, and value. Top candidates like VVR, BGX, and DHF offer double-digit discounts, strong coverage, and yields up to 11.6%, presenting potential for both income and capital appreciation. Negative z-scores across several funds indicate they are trading well below historical valuation ranges, suggesting possible mean reversion opportunities.

Seeking Alpha • Jul 13, 2026

Income-Covered Closed-End Fund Report, May 2026

We screen ~400 closed-end funds for full distribution coverage, prioritizing funds with coverage above 100% to reduce risk of distribution cuts. Top Income-Covered CEFs trading at wide discounts, like BGX and VFL, offer both high yields and potential for price appreciation if discounts narrow. Funds with the most negative z-scores, such as JHI and FMY, are trading below their historical average discounts, highlighting potential value opportunities.

Seeking Alpha • Jun 12, 2026

BGX: Short Strategy Proven To Be Ineffective (Rating Downgrade)

Blackstone Long-Short Credit Income Fund is downgraded to sell due to unsustainable payouts and persistent NAV erosion. BGX trades at a 12% discount to NAV, reflecting market concerns over high software exposure and below-investment-grade credit risk. The fund pays out more than it earns, with a 7.7% yield unsupported by net investment income, risking further NAV declines.

Seeking Alpha • May 14, 2026