I read that some hedge funds were pulling out of CEF's in general and the market would see drops like today. I guess one would see this in this last quarter as they get ready for that great unknown at the end of the year, Who is going to take the White House and what is going to happen on the taxes and debt. If Gabelli is the player he will know how to work his way around the market falls. The question that has to be answered is if the fund is still making money.
The fund would have to earn almost 11% a year (60 cents divided by the actual assets owned = NAV= $5.63) year after year just to sustain the dividend. Not counting management fees, trading costs, etc
(the leverage is irrelevant because it's pretty low and the assets purchased with it could go either way, ie if they use it to buy a stock that yields 4% but then goes down 10% in price, they' ve lost the difference plus the cost of leverage)
Not likely from this point on given utility stocks are already at a multi-year high