The 15% premium that was being paid has gotten washed out and shares are now sell at a 1.73% discount As of 02/18/15 .Current $6.24 share price --- net asset value $6.35 discount -1.73%
The last time I had a good size position in SRF I sold it all a $21.72 back on 01/30.2013 And now have average cost of new shares of $6.29. So I figure if I just hold out and collect the monthly payout that some day it maybe back to $15.00. I do think what your doing is much smarter. I have been selling at lot of fixed income funds with a good long term profit and buying( SRF ) (PEO) (KYE) (JMF) for income and adding to (ESV) (NE) (ECA) sure hope oil does not pull back to $20 - $30 level that some say will happen. I believe it will be back to $100 at some point and I will have a nice gain as well as good monthly income a long the way. I have been wrong more then once. Like i said what your doing is a safer move .
I bought BBEPP instead along with CVRR. Much better than SRF. Now I have stop-loss orders set on both ... just in case oil prices resume their slide.
SRF may no longer be trading at a premium. I have been buying a little in the $6.00 range. I am not sure if they have changed there holding and if they still hold line and bbep which have been moving off there lows. This may just be a head fake with oil prices moving up. I been slowly building positions in kye peo and jmf. I found a company FMC TECH symbol ( FTI ) looks interesting long term it has jumped 6% since my first small purchase
WOW - I was expecting the dividend to be cut in half - but not down to the $7 range!
Good that they are being realist I guess...
BBEPP now looks like an even better deal since the only risk there is bankruptcy. I'm still waiting to buy though. I still see oil dropping further.
Great dead cat bounce in EVEP today by the way.
The net asset value has been declining with the price of the stocks in the energy industry. If you think those stocks have bottomed then it may be a good time to take a small position at these prices. The NAV will rise as the stocks it holds such as VNR increase after the over sold condition passes.
share price $6.93 How can people pay 15.69% premium. I will give them a better deal give me a million and I give you back 900k. This fund is very rigged the way the share price is jacked up and it does not trade as low as real nav value. Good time for sellers to take a tax lost and trade for a better fund and buy it at a ten percent discount and they be in the same type holdings at a value of 25% more, seems like a no bainer move.
Line is under $10....Buy a fund maybe a steelpath or FEN....FIF....FSENX.....FENY,,,,,,CURCX.......MLPI...MLPN...So many to pick from ...good luck
After the big drop in it's holdings, the NAV is now less than $6.50. But that's not stopping some fool from paying over $1.00 more than it's worth today - amazing!
Why would you buy a fund selling at a 13% premium when you could buy a different fund, better run with the same or much better holdings sell at a 12% discount. You would be 25% a head of the game already. This is being smarter then people who would currently purchasing SRF at this price.
Why not buy a fund with the same type of holdings selling at a discount that is better run.(peo) Petroleum & Resources ( JMF ) Nuveen Energy MLP Total Return or if you like cushing company how about ( SZC ) Cushing Renaissance Fund. I like the holdings in ( kye )Kayne Anderson Energy not sell at at discount right now. If I where to add to kye I would look to buy at a 2% to 3% discount. . If I had to buy only one and was looking at all factors aand was looking for a safe bet. PEO fund Petroleum & Resources paid out $1.89 in earnings and not ROC and has been around since 1929 and has a ten year average return of 7.46%. and it is selling at a 12% discount.with a lot of very good holdings . Exxon Mobil Corporation $127.76M 14.02%
Chevron Corp $88.68M 9.73%
Schlumberger NV $56.95M 6.25%
Halliburton Company $39.41M 4.33%
Occidental Petroleum Corporation $38.94M 4.27%
LyondellBasell Industries NV $38.47M 4.22%
EOG Resources $35.45M 3.89%
Phillips 66 $35.07M 3.85%
Dow Chemical Co $28.71M 3.15%
Anadarko Petroleum Corp $27.90M 3.06%
Noble Energy Inc $25.53M 2.80%
"How can people be so dumb to pay such a premium"
I dont understand why people always focus so much on actual premium/discount. Just two month in Nov. last year the nav was 15$
Maybe in a year it will be 15 again.? Who knows? If people believe that then it would be a bargain,despite of the fact that there is a 13% premium in nav now.
Maybe they are looking at the huge distribution - not realizing that it is going to be cut by more than half likely.
The Arabs seem determined to shut down as much of the U.S. Shale industry as possible unless they are just bluffing. I am going to wait about 6 months to see if that's true. If so, SRF could go down to just a few dollars.
I'm watching to see if BBEP can survive the onslaught. If so, and OPEC decides to tighten, their preferred shares look attractive. The symbol for the preferred stock is BBEPP, and if the lows are revisited, it will pay 12%.
still selling at a big premium . closed today at $7.76 a share about a 13% premium . How can people be so dumb to pay such a premium. This stock seems to be controlled by the market maker something is weird going on with the price. One thing that is clear is anyone who was sold this a few months ago during the secondary got screwed
XSRFX is $17.17, so it's still not time to buy I guess. Today BBEP cut their dividend in half just like LINE did. Still looks as if the divy here will drop to 12%. Looks like a buy at the right price near NAV.
The nav maybe close to share price at this point after todays run up in line and bbep after hours. It would be nice if they had nav updated daily. I saw nav price of $7.17 (01/02/15) before line started to take off so It could be time to start buying. I would like to buy at about a six percent discount but may not get there. Another cushing fund SZC trades at a big discount maybe some thing to check out. I have never bought any SZC. I did buy JMF AND KYE but did not get enough of them before they took off.