1) the fund has not released performance information since 4/30/12, so the charts on ETF Connect that say the distributions are all out of income are basically fabricating the numbers from that point on (if you can find more recent information, please point me to it)
2) a large part of the premium to NAV was created precisely in those last six months
3) look at what high yield bonds overall are actually yielding at current market prices, and you will see the only way they can get 9% out of them would be to use ridiculous amounts of leverage or take incredible credit risks
The numbers in cefconnect are current to this month. Their source for information is Morningstar and I consider Morningstar a reliable source. not so much of a premium after today. I am here for the dividend and reinvest each month, so am less concerned about current share price. I am confident the price will be back up the next time I re-invest the divy.
Assuming you already sold your PHT, where did you put the money to get a return of over 8%?
I am always looking for investment alternatives.