VVR: The Dividend Needs To Be Cut To Slow NAV Erosion

Invesco Senior Income Trust (VVR) remains a sell due to persistent NAV erosion and unsustainable dividend payouts. VVR's high yield (11.6%) is unsupported by earnings, with recent annual earnings ($0.09/share) far below current payouts. The fund's structure—heavy exposure to below-investment-grade and unrated floating rate debt—heightens risk in a high-rate environment.