According to the recent prospectus announcing the liquidation, the calculated per share value of the fund was 12.26 based on market value of holdings ($ 46 MM) and shares outstanding (3 plus MM) in early Jan. 2013 [i don't have the exact figures in front of me]. Also according to SEC filings on two separtae occasions in early Jan. , the largest shareholder (25% or so ownership) continues to buy shares. I don't understand why the fund shares at 12.55 are selling for more than what the gross liquidation value is, before liq. expenses. Can anyone explian?
You can get the NAV (Net Asset Value) from the CEF (Closed End Fund) web site. As of this writing the NAV is over $13. So, unless the "managers" take an ungodly cut for expenses, the current price is still below liquidation value.