Seems to me that they are telegraphing to the market that the nice big end-of-year payouts are ending. They are going to work these into monthly distributions as a way to smooth out the payments (keep them steady in the face of this downturn) rather than unload in December. That's the reason for the big sell-off IMHO. Thoughts?
You are a moron. It is not a "yield" you are receiving, it is a "distribution". IGR doesn't earn anything close to a 15% "yield". This is marketing, not portfolio management driven (give the suckers a steady distribution). Regardless, this is selling off big time and may soon be at a point where I'll bite. First, you may want to see how much further this meltdown goes. Relatively "cheap" equities may become much cheaper.
Smooths out the montly paymnents by giving people who need income a larger payment without having to wait til the end of the year for it. Anything left over will be distributed year end. Sometimes extra income is distributed before the end of the year. The sell-off is related to conditions in the marketplace and not how the distributions are calculated and paid.