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PIMCO High Yield Fund (NYSE: PHK) is a closed-end junk-bond fund managed by Bill Gross, the well-known bond guy. Recently it sold as high as

PIMCO High Yield Fund (NYSE: PHK) is a closed-end junk-bond fund managed by Bill Gross, the well-known bond guy. Recently it sold as high as $14.31 a share -- a premium of 70% over NAV! This week, following an unflattering article in Barron

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