Share price keeps dropping because the bond market bullrun is over. Gundlach is just like other shooting stars, a genius in up markets, but doesn't hedge his bets in a down market. Why should he bother, it's not his money. I've been holding enough TBT to hedge my bet and preserve capital, just like many other investors. I think we are smarter than them in that regard. I think I'm selling my six figure holdings in DLTNX and keeping my TBT. My PRHYX has been appreciating while DLTNX has been dogging me.
I'll be back when it is in the low 9's. TGLMX and PTTDX's price history reflect that, but that may not even be the bottom as they say the bullrun has been 30 years long, and interest rates will be rising. In the meantime all bond holders will get 'sandpapered' to death slowly over time.