High-yield bond issuance has clearly fallen as 2015 has progressed. For most of the first five months of 2015, issues related to refinancing needs dominated the primary market for high-yield bonds.
Net inflows into high-yield bond funds totaled $45.1 million in the week ended July 8. It was the smallest inflow so far this year. High-yield bond funds have seen inflows of $280 million year-to-date.
Junk bond issuance in 2Q15 began on a strong note in April but tapered off in June with the lowest issuance in 2015 so far. ZF Friedrichshafen issued Ba2/BB rated dollar-denominated junk bonds worth $3.5 billion in April.
GAMCO adds TRW position During the third quarter, GAMCO Investors started a new position in TRW Automotive Holdings Corp. (TRW). The position accounted for 0.63% of the fund’s 3Q14 portfolio. TRW Automotive Holdings overview TRW Automotive Holdings supplies vehicular systems, modules, and components to original equipment manufacturers and related aftermarkets globally. The firm mainly designs, manufactures, and […]
GAMCO Investors took a large new position in Weatherford International (WFT) during the third quarter. The position accounted for 1.21% of the fund’s 3Q14 portfolio.
Mario Gabelli’s GAMCO Investors upped its position in Chemtura Corporation (CHMT) during 3Q14. Recently, a 13D amended filing raised the position further.
Mario Gabelli’s GAMCO Investors added to its position in Sony Corp. ADR (SNE) during the third quarter. The position accounted for 0.52% of the fund’s 3Q14 portfolio.
Mario Gabelli’s GAMCO Investors began a new position in Bally Technologies Inc. (BYI) during the third quarter. The position accounted for 0.11% of the fund’s 3Q14 portfolio.
During 3Q14, GAMCO Investors started a new position in Concur Technologies Inc. (CNQR). The position accounted for 0.35% of the fund’s third-quarter portfolio.
GAMCO Investors started a new position in Liberty Media Corporation Class C (LMCK) during 3Q14. The position accounted for 0.36% of the fund’s third-quarter portfolio.
