UPDATE: Stifel Nicolaus Initiates Invesco Van Kampen Dynamic Credit Opportunities Fund at Buy

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Stifel Nicolaus initiated its coverage on Invesco Van Kampen Dynamic Credit Opportunities Fund
VTA
with a Buy rating on shares. Stifel Nicolaus noted, "The Invesco Van Kampen Dynamic Credit Opportunities Fund is a leveraged closed-end fund. Its portfolio was comprised primarily of 70.71% senior loans and 14.63% high yield bonds as of June 30, 2012. Under normal conditions, the fund will invest in a diversified pool of bank loans, which can include collateralized loan obligations. … Senior loans are at the top of a company's capital structure. This allows them to be repaid ahead of subordinated debt in the event of a default. Senior loans historically have had recovery rates of approximately 70% after a default." Invesco Van Kampen Dynamic Credit Opportunities Fund closed at $12.11 on Friday.
Posted In: Analyst ColorInitiationIntraday UpdateAnalyst RatingsStifel Nicolaus
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