If you own a bunch of CEF's, I would think you own a bunch of income.......that's why you own them, right?
Did your income go down today?
If your income did not go down today, is there an issue?
I look at income-generating bond CEF's kind of like I look at our house. We bought our house in 1996 for X, and its value went to 3.25X, then it went to 1.95X.......now it is at 2.25X. But throughout that process, it was still the same thing.....our home.
Regardless of the "value" fluctuation of the house, we have no intent to sell, the true "value" is how this is our sanctuary.
If, somehow, this stopped being our sanctuary, then we might think otherwise. In the same vien, if our PTY CEF did something different, we might look elsewhere. The price moves around, like the price of our sanctuary house. But as long as the income is the same, just like the benefits of living in the house are the same, regardless of its value........well, why change?..........Dave
Thank you Dave. My thoughts exactly. The lower the price, the more shares I get when my divvys and year-end payout are re-invested. This is a great long-term, secure investment for people like me who want income. The security of knowing I get a fixed amount of cash each month is worth the increased tax I have to pay. And even when tax-adjusted, the payout is way more than comparable bonds and stocks over the past 5 years. As with any CEF, the price will fluctuate widely when large investors come in and out but the underlying value has always been there since inception, when I first bought in.