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Gabelli Utilities AAA Message Board

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  • mbacpasec mbacpasec Jan 31, 2012 8:22 PM Flag

    Dividends via Capital Gains

    Wells is a Bank trying to be a broker.

    This relates to the fact that 1 cent is income and
    6 cents are Return of Capital that reduce your cost
    basis.

    It took from 1999 start of fund to two months
    age to figure this out at Morningstar.

    If you go to Website there is a big disclaimer to this
    effect. Do it.

    I ran a few SEC funds for years and at the end
    of each Calendar Quarter we paid out income for
    that quarter. At year end there would be capital
    gains.

    ******************

    Plot this fund vs XLU or VPU Vanguard and you will
    see disturbing lack of fund keeping up with index.
    He holds 247 stocks. They claim if you call that they
    are more Mid Cap Value than large Cap.

 
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