There are many ways to create monthly income from investments. One method is to invest in closed-end funds ysing a taxable income strategy. these funds tend to invest in fixed income securities like high yield bonds, mortgage bonds and other income sources. Below is a list of 5 high yielding taxable income funds that pay monthly dividends. The yields range from 9.6% to nearly 11.1% in these CEFs. Three of the five funds are trading at a discount to their net asset values.
Check out more monthly income recommendations from the Monthly Income Plan.
| Symbol | Name | Strategy | Closing Price | NAV | Yield | Prem/ Discount | Market Cap |
| PGP | PIMCO Global StocksPLUS & Inc |
Taxable Income-Multi-Sector |
$19.77 | $12.25 | 11.13% | 61.39% | $201M |
| HSM | Helios Strategic Mortgage Inc |
Taxable Income-Mortgage Bond |
$6.21 | $6.47 | 10.14% | -4.02% | $63M |
| FMY | First Trust/FIDAC Mortgage Inc | Taxable Income-Mortgage Bond |
$19.15 | $18.61 | 10.03% | 2.90% | $78M |
| FSD | First Trust High Inc Long/Shrt |
Taxable Income-High Yield |
$16.37 | $17.59 | 9.79% | -6.94% | $590M |
| JMT | Nuveen Mort Opp Term Fund 2 |
Taxable Income-Mortgage Bond |
$21.53 | $22.87 | 9.61% | -5.86% | $103M |