I called my broker (ameritrade) about this. I own this in both my after tax account and my 401k (wells fargo acct).
I hate wells fargo, so I called Ameritrade, who I think is far more knowledgeable. I was worried about being automatically enrolled.
Ameritrade told me that since I am not holding shares directly with the share issuer (or whomever that company was that i can't remember now), I will not be automatically enrolled in either of my accounts. I will still get paid cash dividends. Thank goodness.