Tank is hardly the word I would use to describe what happened as you neither lost or gained any dollar amount as a result of the distribution. The 27 Dec. dividend is a redistribution of capital from the PTTRX portfolio. As such it is neither a dividend or a cap gain. But instead a distribution of the proceeds of a sale of a portion of the portfolio which resulted in neither a cap gain or loss. But in effect a dilution of capital assets in the portfolio distributed as extra shares that were simply sold without either gain or loss. I suppose we may be happy if we see a gain in the dividend for December on a per share basis and ongoing since we are getting more shares, I believe, without a taxable consequence. One might suspect the fund is also repositioning itself to start the year at a lower NAV since it is near an all time high for the NAV anticipating more headroom to increase NAV in 2013.