ok, will you be selling th bond funds after x-div? it appears that with interest rates rising bond cef funds will get clobbered but I don't know for sure. my advisor tells me i missed a good buying opportunity as they were oversold. GL
Someone posted that EOI div cut news over on the PHT board yesterday. Here's my replies from 12/15 and 12/16:
"Whoa! Thank god for these message boards.....I was considering moving some of my IRA money into EOI, thanks for posting the news about the div cut, it's huge....$0.1164 chopped to $0.0919, a decrease of $0.0245, or 21.05%! That drops it's yield from 10.57% to 8.77% based on today's closing price, ouch....scratching that one off my list...."
and this morning:
"And it's yield continues to drop as folks pour money back into the fund today.....weird, wonder if retailers didn't hear the div cut news yet (like I didn't)?
On the bright side, it looks like the bond panic has eased, all of my bond CEFs are bouncing back, glad that I was already ex-div in all of them and was waiting for the div before any potential sales :-) "
EOI and ETJ both reduced dist. today. ETJ kept same. JPS I got in too soon at 8 and now taking hits. I will average down on JPS as it is not a bond fund but a preferred fund. I also own GGN and CSQ which treat me ok. Thanks - GL!