.My cost basis is 31,255.00.The current value is 9,920.00 I have a LOSS of 21,335.00.Too late to sell.I was hoping to just take the dividend every month forever.NOW the thieves cut the dividend in half.I guess I just have to take the 50.00 per month dividend .I am old and have many other capital loss carryovers to last me till I am 150 years old..So,I am STUCK with this POS fund..I hope the crime family of this fund gets their KARMA.In my opinion they are lower than their Madoff friends.I f you know what I mean
It seems there are many people in this same boat named, "POS fund". If it's any consolation, your annual dividend of $0.24/share still probably yields on your cost-basis a higher return than any current CD offering out there. I hold my shares in retirement accounts which at least avoids the taxes on the dividends, but the down side is I've held on longer than I should because there was no opportunity for taking a tax write-off.
I held on because I am a DOPE....Shound,wudda,are no excuses.Shoudda CUT my losses early.Just have to hold and collect the div. unless I can trade for enough ST gains where I can sell this POS.....Kindest Regards,Robert
I am in the same shape that you are. I have decided to bite the bullet and sell my shares(and they are in an IRA). There is a closed end fund run by Gabelli (GGN) that I have decided to buy. Yes, it is gold and natural resource oriented which is certainly not in favor now. But it has a(rather consistent) yield of about 14% and it is at a multi-year low due to what's happened with gold. They own gold miners and oil companies and not (as I understand) physical gold. I am of the opinion that there is little upside (there hasn't been much movement since 2008 and the dividend keeps getting cut) in ADVDX and I am of the opinion that the long term return of GGN is superior. I am not trying to pump anything, just to make you aware of one possible alternative. Do your own due diligence and good luck.
OMG, my account is a mirror image of yours, right down to the amount invested. I thought like you, that they would recover the fund as so many others have. Well, this has gone nowhere. When we started the fall I was on the phone to them as well as my Lehman fund. Looking back now, all I got was lies, especially from Lehman where they looted the fund then dumped it. Now this dividen cut, I don't know how we ever can recover even half.