These poor shorts are paying ($0.1219 X 4.12 M) $0.502 M monthly to keep their positions. Are they out of their minds?
The violent price action around Ex-dividend days (look at March 15 to April 1 or May 7 to May 13 or June 8 to June 15 or June 7 to June 10) has stopped. There was not much price action around August 10 and 11, relatively. Any explanation? I think the institutions were selling those days and finally they are out. They are holding now only 3.4%. http://finance.yahoo.com/q/ks?s=PHK
all institutions realize the roc will come back to a major sell off when the management stops the capital payout. will occur when junk portfolio peaks which can be any day. we do not know if bonds are at/near par in portfolio.
You are right. ROC is 0.0187. Let's wait a few days and see how much is the ROC for the month of August. I am following PHK, in case they decrease the dividend, there will be a panic sell-out, then I buy it otherwise I am enjoying my NCV, NCZ with almost same dividend without any premium and hype