to .065 cents per month which caused it to drop
from near $8 to near $6.50. At about the same time the
BOD announced that they were going to buy back stock
in ACG, GSF, SI and one other CEF in an effort to
increase shareholder value. As you probably know, these
funds are managed by Alliance Capital(AC), and in my
opinion they could care less about CEF shareholders. They
take a fat management fee based on the NAV of these
funds and that is where their concern starts and stops.
They provide no customer service and have nobody that
is informed to talk with. Remember these CEF's trade
like stocks so their sales people can't earn
commissions on them like they do on their open end funds.
I'll say it again, Alliance Capital just takes and
takes from these funds and gives nothing back in return
to the shareholdere, not even feedback on the
progression of the buyback.
Try talking to them
sometime and see if you can find one intelligent being.
The telephone number is 800 221 5672. Good luck.