Discount is LARGE at 15%... it was HUGE at ~35% at times in both Oct and Nov....still a deal, but BEWARE as it is near where we have been averaging. I personally am waiting to add at another time of extreme weakness as we go into "tax loss" selling on this dog and possible anouncement of dividend cut.
Looking over the full Sept 30, 2008 holdings released in full over the weekend there are some real dogs. Hopefully they are already included in the price. Here is the link http://www.alpinecef.com/awp-holdings.html
Disclosure...holding long term, but pissed about the past year.
I agree. I'm an ADVDX'er (happy) and AOD'er (burned) (OK, when you look at the charts-both have tanked) whose tempted by getting into this fund, but think that when the traditional "3-month" divi announcement is made early next month, a cut will be evident, which combined with the commercial real estate phobia, will mean I'll be able to pick this up cheap at the bottom and with a divi that shouldn't go lower.
OK, not much lower!
I wonder now if this CEF is still buying back stock (as announced last October). Seems that putting money into this sector may be a little pre-mature. Maybe AWP builds a war chest to be used at the first sign of a pick-up in the sector. If the divi dosn't go down, I wonder.....