PIMCO Energy and Tactical Credit Opportunities Fund
NRGX
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 650 Newport Center Drive Newport Beach CA United States of America 92660
- IPO Date
- Jan 30, 2019
- CIK
- 0001756908
- Similar Companies
- Business
- PIMCO Energy and Tactical Credit Opportunities Fund (NYSE: NRGX) is a closed-end management investment company that seeks total return, with a secondary objective of providing high current income. The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in investments linked to the energy sector and credit sectors; at least 66% of its net assets are allocated directly or indirectly to energy investments, including significant exposure to master limited partnerships (MLPs) and other energy companies, subject to limits to qualify as a regulated investment company under U.S. federal income tax rules. Energy-linked investments encompass companies with at least 50% of assets, revenues, or profits in energy infrastructure such as exploration, production, transportation, refining, and marketing of natural gas, crude oil, refined products, coal, electricity, and renewables; energy-related commodities; and derivatives providing economic exposure thereto, with MLP exposure often obtained via total return swaps backed by cash equivalents or high-quality debt. Credit investments include corporate debt such as fixed-, variable-, and floating-rate bonds, loans, and securities issued by U.S. and foreign corporations, including emerging market issuers. Launched through an initial public offering on January 30, 2019, at $20.00 per share, the fund is managed by Pacific Investment Management Company LLC (PIMCO), with principal executive offices at 1633 Broadway, New York, New York 10019. PIMCO, founded in 1971 and headquartered in Newport Beach, California, oversees the fund as part of its global fixed income strategies, with operations spanning the Americas, Europe, and Asia. In a major strategic shift announced on September 22, 2023, and effective November 21, 2023, the fund changed its name to PIMCO Dynamic Income Strategy Fund and its ticker symbol to PDX, while revising its investment objectives and guidelines to emphasize a primarily income-oriented, multi-sector credit mandate over its prior energy focus; this included additions to the portfolio management team to enhance flexibility and secondary market demand. The fund continues to declare quarterly distributions on its common shares, with recent payouts including $0.220 per share as of late 2023. It maintains a non-diversified structure concentrated in energy and credit, targeting institutional-quality exposure for shareholders amid sector-specific risks such as commodity price volatility and regulatory changes.