Why would anyone buy FMO today at 19.50 plus when the NAV is roughly 17.50?
I sold north of 20 today after holding since the market lows in 3/09. In any case, it drops 0.50, and the buyers step in.
Sincerely not criticizing(to each his own) but I would love to know why people pay up for the CEF when they can go buy a basket of MLPs and save 10-15 percent. Is it the lack of tax hassles or the ease of using the CEF as the basket?
Have you checked out the new mutual fund from Steelpath, MLPDX? Expense ratio of 1.25%, and no leverage, nor premium. This is the income fund, they also have a couple of other funds. I am looking at getting out of the FMO, and using this for MLP exposure. I don't think the yield is all that much lower than FMO either even without the leverage.