Ill give you some free guidance (I normally charge $1000/hr). And I am the top investment mind on earth *that is a fact). I would probably sell this in the long run as they plan to raise fees. Fees are key. The fees are likely to be raised gradually over time. None of you even knows the real reason why this fund was converted from CEF to OEF, do you. I'll give you the real reason. The brokerage firm that pressured the fund held around 8% outstanding so they wanted to start collecting 1% annual fees. That's why its a mutual fund now. It has nothing to do with getting the share price at par with NAV. That's nonsense.
Boy you are clueless! The fund has not significantly changed its holding you moron. The fees are higher now. You are so clueless as to the investment markets that I would suggest you never put money into the market unless you want to lose it
Is the new symbol ACGYX? I hadn't seen that and have seen nothing lately from Alliance Bernstein
Not much information on ACGYX. Does it have payouts monthly or quarterly? Most of the time when a buyout occurs it’s not good for the shareholders. Looks like a money grab by AllianceBernstein.
I have ACG since 2001, bot at 8.82.....I didn't know what to do, so I have held my shares.....I recorded the dollar value, so I can compare it to the new fund amount....hopefully, in a months time, the amount will be more......4/25, we'll see the new mutual fund ticker symbol....will it be tradeable thru a brokerage account?
Looking for day/swing momentum trades? Lion Stock Alerts (search them) has you covered. They call it like it is without all the fluff.
Yes. This was a stupid move for shareholders to vote for conversion. Only the brokerage firm voted for it so it could get the 1% annual trailer from its clients. Now the fees from this fund will soar. I sold because I knew this would happen. This was a great fund destroyed again by crooks.
If you are looking for some speculative growth take a look at PVHO. This company is doing all the right things! They have huge national brands under contract + real revenues. For a company with over 1mil in quarterly revs to trade with under a 10m market cap is just insane. Intel even wrote a pretty bullish article on the company and their tech. Start your research now.
Hard to say, since the fund will be somewhat different-
"The AB Income fund will differ from ACG in that it can invest in foreign government bonds. AllianceBernstein also notes in the release: The broader investment policy of the Income Fund should provide the investment flexibility to better manage duration and credit risk."