With respect to Technical Analysis: Moving Average Convergence/Divergence (MACD) indicates a BULLISH TREND Chart pattern indicates a STRONG UPWARD TREND Relative Strength is BULLISH Up/Down volume pattern indicates that the stock is under ACCMULATION The 50 day MOVING AVERAGE is rising which is BULLISH The 200 day MOVING AVERAGE is falling which is BEARISH
This was posted on Friday-- "Nov. 13, 1998, ACM Govt. Income Fund Inc., "announced Sept. '98 3 mos. net invstmt. inome, "$0.20 vs $0.25 and 9 mos. net "invstmt. income, $0.66 vs $0.72. "Net asset value per share was $8.76 at Sept. "30, 1998 and $10.94 at Sept. 30, 1997.
With a little projection you get income for the year between 0.80 and 0.88 per share. This is NOT enough to cover a dividend of 0.90 per share!
The NAV of $8.76 gives a premium of 8.5% for the current price of $9.50 and a premium of 57% for the purported support at $13.73 A positive premium does not make sense when both earnings and NAV are decreasing.
Sorry, fundamental analysis says that this stock must go down. This is not an internet stock, but a bond fund!
I tend to agree with you about the future market value of ACG. Actually, the current NAV is $8.59.
It has always been a mystery to me why ACG sells at such a premium to GSF when their portfolios are almost identical and their income from investments are also close to the same. GSF seems like a better investment. Periodicly the market values of ACG and GSF come together only to spread apart again. Maybe ACG has better market performance because of their Value Line listing. Other opinions would be appreciated from those who follow Alliance Closed End Funds.
As for their $.90 dividend, some Alliance customer service representatives have told me that Alliance may have changed their dividend policy in their closed end funds and may hold dividends steady by combining investment income with return of capital. I wouldn't bet the farm on it though! After many years of investing in Alliance funds I find the credibility of Alliance information to shareholders shallow and unreliable. Again the experiences of others would be appreciated.
I think your wrong.I have ira and regular at Datek.I do not own ACG now but I have bought/sold ACG in both accounts.Just doesn't sound right.Just stoped in to see if anyone had thoughts on ADF,AWF,TEI,EMD, or FUND. Sorry but we have no messages boards and this is similar type investors.Get's lonely in closed end funds.
ACG is, in essence a common stock on the NYSE, and as such should be transferrable to any broker. I have transferred twice in the past three years and it carrried through ok. The types of securities that I was unable to transfer were B and C mutuals and those type of funds that are special products of a particular broker. I think they are generally referred to as propriotary (sp?)funds. I never buy any of these anymore because if you want to change brokers, you do, as you indicate, have to sell them and that may act as a restriction to your financial goals.
Actually, I have been thinking of transferring to Datek. If you have time to let me know anything good or bad about them I would really appreciate it. Can you get a debit card with them? checks?
Thanks and good luck with your investments. Hope everybody makes a good return.