Your right and sure I'm bothered, tells me they are not making the divi's on investments so return capital to the crew to keep them happy a nd no mutiny....I'm worried, I want returns on good investments not ponzi scams....
I bought in at $9.94 when it was at a discount to NAV, so I'm not worried just yet. These funds are a bit quirky by nature. Lessons I've learned the hard way are to not overreact to the run ups and sell offs around the ex-div date and not buy/sell in large chunks, thus minimizing a buy high/sell low situation, as these funds are not as liquid as ETF's, stocks, etc.. If one picks a good closed end fund at a discount to NAV and buys/holds for income, that's one approach. Another is to trade in/out and lots of other stuff I'll leave to the "experts." My simple assessment is I've garnered the distribution income AND seen share price increase. My stomach won't churn until it starts to approach my original entry cost. If one is reinvesting the distributions, so much the better longer term. GLTA.
Why does Yahoo show that the yield on BGY is .70%?????? This makes NO sense - I was putting mine in for a sell and going to buy something with a better yield. They have had this listed wrong for a long time.
BGY is a closed end fund. Yahoo! only shows the income component, not return of capital, as Alta states. I've found this to be consistent with all CEF's on Yahoo!. For a full picture, try http://www.cefconnect.com which deals only with CEF's. There, you can "Yield" shop and compare. BGY is currently at a 12.5% distribution rate. You'll see the breakdown between true income and ROC, along with tons of useful data for this and all CEF's. I own this and CII (both BlackRock funds), and am thinking seriously about swappinf both in for ETJ, which is at a -8.14% discount to its NAV and a 13.63% "Yield" as of Friday's close. Hope this helps. Cheers!
...Yahoo has been doing this with a number of Funds. The .07% per cent probably reflects income on investments, the remaing percentage of the annual dividend is ROC. Why they do that is a question for Yahoo!