I think that confusion reigns, since the big dividend has not yet been "added" in. That will come soon. Also, the recent Fed announcement about future interest rates was "okay", but sounded less certain to keep interest rates low for a long time. I'm sticking with BOND myself. I'm also "in" the related mutual fund, PTTDX, which has an even larger dividend in the works, and had a correspondingly larger drop in fund price. My two cents.