Blackstone Long-Short Credit Fund (BGX)
NYSE NYSE Primary 
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.
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.
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.
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.
