Hi, ING Clarion Global Real Estate Income Fund was recommended to me recently. The reason is my job may be eliminated in the next 12 months.I may need to generate some monthly income and IGR may be for me. Can a shareholder out there please explain how you purchased shares?I haven't called the Co. yet.
Is this heavy risk in losing the price per share?
Is the dividend monthly? If I had lets say $200,000 to purchase shares, how would I determine the monthly or quarterly income amount? I see the share price is about $6. $200000/6= 33,333 shrs. Is there a load?
Then 33,333 shrs x .54=$17999/12= $1499 per month?
If I'm not even close, its because I'm a growth investor and haven't studied the art if generating monthly income.
How to buy? It's a CEF (Closed End Fund) and is traded on the open market just like a stock. No load other than your brokerage commission. There's an annual expense ratio though.
Your math seems OK to me.
$200,000 / $6.06 (today's close) = 33,003 shares
33,003 x $0.045 (current monthly dividend) = $1,485 monthly income
Of course there's no guarantee that the distribution rate will not drop in the future.
The most accurate and up-to-date information is generally found at the fund's own website.
Closing price: $6.16