Managed High Yield Plus Fund, Inc. (NYSE:HYF)
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Managed High Yield Plus Fund Inc. (NYSE: HYF), a closed-end management
investment company, today announced that the Fund’s
Board of Directors has declared a dividend from net investment income of
$0.0400 per share. The dividend is payable on April 30, 2007 to
shareholders of record as of April 19, 2007. The ex-dividend date is
April 17, 2007. Managed High Yield Plus Fund Inc. seeks high income and,
secondarily, capital appreciation, primarily through investments in
lower-rated, income producing debt and related equity securities.
Portfolio statistics as of March 31, 20071
Top ten bonds, including coupon and maturity
Percentage of total portfolio assets
Ford Motor Credit Corp, 9.750% 09/15/10
1.7%
Levi Strauss & Co., 12.250% 12/15/12
1.7
Sungard Data Systems, 10.250% 08/15/15
1.6
Bowater Inc., 7.950% 11/15/11
1.6
Wheeling Island Gaming, 10.125% 12/15/09
1.5
ArvinMeritor Inc., 8.125% 09/15/15
1.5
Jacobs Entertainment Inc., 9.750% 06/15/14
1.5
Bluewater Finance Ltd., 10.250% 02/15/12
1.4
CMP Susquehanna Corp, 9.875% 05/15/14
1.4
Verso Paper Holdings LLC, 11.375% 08/01/16
1.4
Total
15.3%
Yields2
NAV yield
9.8%
Market yield
9.4%
Portfolio statistics as of March 31, 2007, continued1
Top five industries3
Percentage of total portfolio assets
Paper/Forest Products
8.9%
Gaming
8.1
Building Materials
5.9
Media-Publishing
5.8
Chemicals
5.8
Total
34.5%
Other characteristics
Net asset value2
$4.88
Market price2
$5.09
Weighted average maturity
6.2 years
Weighted average modified duration
3.0 years
Weighted average coupon
10.0%
Estimated accumulated undistributednet investment income
$1.6 million
Leverage4
31.1%
1 The Fund is actively managed and its
portfolio composition will vary over time.
2 Net asset value (NAV), market price and
yields will fluctuate. NAV yield is calculated by multiplying the
current month’s dividend by 12 and dividing
by the month-end net asset value. Market yield is calculated by
multiplying the current month’s dividend by
12 and dividing by the month-end market price.
3 Effective March 31, 2007, the Fund’s
industry categorizations for portfolio holdings have been changed. The
Fund’s advisor views the categorization
changes as being minor; however, prior portfolio statistics information
may not be as comparable to current or future portfolio statistics as
might have otherwise been the case.
4 As a percentage of total assets. Leverage may
vary.