I love the yield and the strategy, but I am out of 75% of my position at 9.05 today
premium is too much for my blood. I have been a long term holder and added significantly near the bottom.
I will look to reenter at a better premium/discount.
Just my opinion,but I am taking my large bounce and taking it s cash for now
NOT ME !!!! i sold everything at 9.20 last tuesday, got my divy, and just re-bought at 8.5099 yesterday.
more shrs, more divys!!!!! and its up to 8.75 already.
good luck trading
I am completely out here, I cannot hold it with a premium of +30% no matter what the divy is
just me, please do you own Due Diligence
but I am gone, have been a long term holder, will watch from the sidelines
good luck all
I am in the same camp as Johni, buy and hold is a thing of the past. I use both dividend capture and dividend avoidance methods when trading CEF's. For any given month, if the pps run up to ex-div. date is substantial enough, I sell before ex-div. and give up the dividend. If the run up in pps is modest, I will typically sell on ex-div. date.
i'm of the belief that there is no such thing as buy and hold anymore. i trade div stocks and funds against any large swings. putting the proceeds into under valued preferreds quarterly. stock picking for value is dead. growth has been canceled. WS scumbags figure out slimy ways to get at the middle class NAV time and again.
....There is a lot of concern about NAV of closed end funds and whether they should be held or bought when they trade at a premium. What company out in stock land does not use leverage to increase income. No one seems to be too concerned about the NAV of Google or Exxon! Seems AOD, IGD, EOD, EXG and others are providing investors with income. The risk of buying Google can be just as great in a down economy as closed end funds.
No doubt investors will jump all over anyone who thinks NAV is unimportant, however we, as an example are living quite comfortably on 8k a month in dividends from closed end funds with discounts and premiums to NAV! In a strong economy NAV is not very important!