I would say its mainly profit taking….with volume up and with NAV decreasing the past 2 weeks….and with about 6 more trading days to go…..it’s looking like the divvy will be reduced for next year…currently NAV @ 5.90 represents about .10325 Monthly Divvy….at today’s close @ 6.72 would represent about 18.44% yield….but this may change by end of month….we shall see.
Also another reason could be the N-2 filing with the SEC last Thursday….looks like another RO is coming.
Maybe you should be asking why this fund is even trading at $6.93 when its NAV is $1 lower at $5.90. Most CEFs trade at a discount and this fund has done nothing but lose value so why should it not be trading at a wide discount rather than a premium?
Most CEF's trade above NAV......but this one took a sharp drop, in the middle of the trading day. Either some large seller or some news......and I didn't see news. Just wondering if anyone had anything specific.