I just found out by calling Barrons at (212) 583-2100 that there was dividends of $5.592 on 11/29/12. If you were a share holder on 11/28/12 your account will receive $5.592 per share today.
You're probably right about the LT gain. However, they didn't have this type (8%) sell-off last year or previous years to fund LT payouts. Looks like they might have mismanaged their payout funds.
I don't understand why there is a $5.23 drop in the NAV only to turn around and pay a $5.59 long term capital gain? Wouldn't a long term capital gain of just 36 cents suffice? It seems it would be better from a tax point of view.
I also figure this as distribution, but puzzled why there is no news or info about it. There have been two other distributions by Baron in November in the past.