Will this fund reach it's 1996 historic high again?
I have held this fund since 1995-96 and remember it's shares reaching nearly 24.00. I sold some of the lesser value shares then. Now I am again waiting to do house cleaning hoping it will reach a little higher than 22ps.Should I wait of should I not?
I did some checking. This fund did not almost reach $24 in 1996. The highest it got was $23.41 on 12/9/1998 and just before a $1.16 dividend. That's not really all that much higher than the current NAV and the dividend that month more than accounts for the difference. The price on 12/9/98 corrected for dividends was $10.48.
This is the sort of question that reminds me why one should focus on total return and not NAV. Sure, the NAV is under $24/share. But, in the past 15 years you have collected far more than $2 in dividends and capital gains. You've either taken the proceeds in cash or reinvested it. In either case, you must account for the proceeds. The real question is, "does this investment do what I want it to do?" If it does, keep it. If it doesn't, sell it. Waiting will only make your dissatisfaction worse.