Calamos Dynamic Convertible and Income Fund (CCD)
NASDAQ (NMS) NASDAQ (NMS) Primary NASDAQ 
Income Investors, Grab Your Buckets, It's Pouring Income
With dividend income pouring out of the market, too many investors fail to gather it in their accounts, or gather too little of it. The best way to gather income, is to gather as much of it as you can! We look at two fantastic income-producing funds.
CCD: Caution Is Warranted As It Trades At A 25% NAV Premium
Calamos Dynamic Convertible and Income Fund (CCD) achieved a 28.36% total return in the last year, outperforming the market's 25% return, despite an initial dip. The fund's long-term total return is 138.4% over 8 years, with a nearly flat price performance and a consistent 10% annual distribution yield. CCD trades at a 25% NAV premium, indicating high investor confidence but reducing the margin of safety and increasing risk if sentiment shifts.
I Am Buying These All American 10% Yields, Happy 4th Of July!
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CCD: Time To Trade The Premium Again
Calamos Dynamic Convertible and Income Fund is a high beta convertibles securities CEF with a history of volatile price movements. The fund has rallied over 19% in 2024 due to the broader equity market rally, but its premium to NAV is historically high and likely unsustainable. Valuations for convertibles are rich, and some bonds held by CCD may not convert due to stock valuations below conversion prices, leading to potential discounts.
