Are your kidding? NRO will survive. Much of this selling is people getting caught up in the emotion of things. This will pass. I own 1000 shares which I bought at $14. I have automatic dividend reinvestment so while it is not pretty it is getting me something. I think we are looking at two years before NRO recovers.
Maybe a meltdown in perception that allows institutions to basically steal your shares during panics that they help create. NRO’s NAV is actually up over 1.8% right now to about $8.42. Failed auctions mean nothing since the 1-Month Libor rate is low enough to keep costs below 4%, which is better than they were in the first half of the year.
Guess what? Institutions want your declared August and September dividends because a 20%+ annualized guaranteed payment is easy money. Even more attractive if they can find a way to acquire them at a huge discount.