Where did you see that? According to cefconnect (Morningstar) ETG's current income covers the dividend and none of the dividend is from short term or longterm cap gains and none of the distribution is ROC. Further NAV has increased by about $1.00 in 2012.
I am just curious about your source of information in case mine is incorrect.
I saw it in the announcement that eaton vance sent to all investors. You should have gotten it from your broker. Relying on what you see at cefconnect or morningstar or any other third party site is not wise.
This has been a multi year roller coaster mostly downhill for me since 2005 but I have reinvested all my dividends along the way and am now down only 9%. I will be far richer when it comes back to my original buy price and climbs higher. I am optimistic for the future for this stock and expect to have it in my portfolio when I die. I am gaining between 35 and forty shares every month and that adds up. I hope we all profit from this.