Repeat Buyer at a Convertible Bond Fund, $134K This Time

ISB Research · Interesting · sent to Ultimate members August 21, 2026

This is a closed-end fund run by Putnam that holds convertible bonds and preferreds for yield. Phillip Goldstein has bought this thing 11 times in the past year, which tells you he's playing the discount-to-NAV game, not making a fundamental call. Every timeframe reads green and the trend's on solid footing, but an officer's routine buy in a bond fund is a mild signal at best. Watch it, don't chase it.

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