I don't even own this thing (yet) and I'm impressed. Obviously, none of you who do own it read Barron's (the best financial newspaper around). Bill Gross, the boss of the PIMCO bond fund empire, gave UTG a huge plug in this week's Barron's.
Thanks for the info on Bill Gross and Barron's. I do read it but have had other more pressing issues lately. Bill Gross is one of those guys that moves markets, and it is unusual that he would comment outside the bond arena. Regardless, utg dropped an unexplained 5% only days earlier to under 17 bucks a share.
I don't really know why it was down, if there was a single good reason. But, it could be that a large owner or two wanted out for whatever the reason, and sold it at market. There was a large volume spike accompanying the down movement....about the same volume as today's up movement.
This happened to me in another income ETF that I owned a while back...some muni bond funds, when there was some insider selling. The thing went from overbought, to gapping down, and back to where it was before the move down, all in just a couple of weeks. I don't think the move down last week was anything to be concerned about. Maybe someone else has more info than I do.