NCV did not make dividend last month, paying a small amount (less than 2 cents?) from capital. I have owned NCV since maybe 2008, and this is the first time. Not the end of the world, but not a great thing either. They have also dulited the shares twice in the past 6 months, once in Dec and recently. Also not a terrible thing, but then again they have to find new investments for that new money. These details are inexact, I sold the last of my holdings today. Made a ton of money over the years, but I think the easy money is done. Shifted all of it to PDI, which has done well (except the last few days). Good luck all.
It would be in your best interest to do some more research into how CEFs work. Not making dividend means they are selling stock to pay for the dividend. This is not a good thing, it means either their investments improve, or they will at some point have to lower the dividend they pay. This probably would not happen soon.
I still like NCV, probably it is a good buy at these prices. Thinking about buying back in, but I don't have the cash.
GL Bill ...
As I look at the financial information, it appears that NCV had about $24 million in cash at the end of last year, and $42 million in cash at the end of the first quarter. Seems like they were holding cash thinking a better buying opportunity was coming ... and it did. Be interesting to see how the second quarter looks.
Worthy of note: average duration = 2.6 years
No matter what stock you look at, when there is a big drop some roach comes out and says he sold everything before it happened. The Nuveen website doesn't show any RoC for the distributions. The latest quarterly on the Allianz website shows this fund a penny short on earnings last quarter, but you show us where it then declares an RoC return of less than 2 cents?
I like to think that people who invest in CEF's are a notch higher up the evolutionary scale than the Pinksheet crowd. Calling Bill Bleeker (a person well known on this board) a roach is very bad taste. Let's try to avoid personal attacks.
It does show it. look at the documents for NCV. click on all documents, there you will see the SEC section 19 report. I didn't sell on the drop, I have been selling over the last month or so. Sorry the facts bothered you.
I have owned NCV since 07 and have 6324 shares at present I intend holding for a while. Have also made a bundle in divvys. Also bought ncz in 2010 and have no plans to liquidate. Today was a record for funds falling. Out of 21 CEFs I have, only one went up, PFO. Am wondering what set this off.