Rates are still expected to creep up further- was that not the main issue for the decline to begin with?
Just asking- I keep it in an income account and would be happy to see it move up- kicking myself for not getting out of it and NLY when rates started to threaten - one way to hedge here is own TBT also-
What is your strategy, how much do you expect to earn with it and how much risk do you want to take. If you are risk averse like me, I indicated a valuation range of 20-23 is justified based on efficient market theory since there are alot of investors trading this daily. Hence, buying at the lowest risk valuation to capture the dividend variance value was the least risky strategy, which I employed. I bought near 21 and sold today to capture the .80 plus a whole lot of bonus without risk, I am also not exposed to principle loss or gain during earnings reporting on Nov. 5 or divy reduction announcements. I am a happy camper because this is right in the mean of my average cap. gain, I don't hold for the divy, I got for 3-4 bucks in cap gain.
The efficient market theory is a fraud because the market ain't efficient. Capitalists love to believe it is but Marxists know it isn't. Value theory is based on the idea that the market does NOT price things correctly.