I sold this prior to exdiv last month and it has gone up since then. I do believe this is a good Closed End Fund with alot of upside potential. I will wait for a better price. I have switched to NLY, HTS and AGNC in the interim. At least the yield is above 15% on all of them.
I can understand the perpective of anyone who bought any closed-end funds prior to the end of 2008. They have almost all declined significantly from the IPO price.
However, at this price and with these holdings and yield (all of which is earned dividend income, i.e., no NAV erosion)combined with the reasonable leverage that the fund has, I think this fund has more potential for capital appreciation than many closed end funds over the long-term.
gates... I appreciate your perspective on ETG. I think a lot of members on this board value your opinion and look forward to them. As I stated patience and vigilance are a necessity in these uncertain market times. Good luck, retiredafe8