Nice dollar rise from yesterday, as folks as finally understanding, this isn't a Bill Gross fund with zillions of percent in premium, and never has paid anything but dividend, not return of capital where they're giving you back your own money. Never. Not PHT.
For those who've vetted each and every holding in the PHT portfolio, you only see a handful of clinkers, the rest of the page of holdings is doing just fine. The fiscal cliff is not settled, but the first post election meeting with the Republican minority went well, as it should, since they are only talking broad outlines. Even Bobby Jindal has called for moderation and compromise, and that the Republicans can't get the White House gambling on 53%--they should be talking about 100% and not spitting in folks eye, whether they deserve the spit or not. It seems you can't get elected by being the party of the divided. Who'da thunk?
After Thanksgiving, we'll see how the second fiscal cliff meetings go, and what kind of framework is built, but something productive looks like it will happen in the wake of SANDY. That 1/4 TRILLION dollar Mother Nature hissy fit can be a boon or a bust, but the current government needs to look helpful and composed.
PHT had a fire sale last week, I hope you all picked up some cheap shares. I know I did.
Volume on the sell off last week started out very heavy. It was a dump that kept on coming. This was at the peak of fiscal cliff commentary and worry over taxation of dividends but most people hold it in tax free accounts like my traditional IRA. As I saw the volume slow down the following day I started nibbling but kept cash in reserve for a further decline the next day. I notice on the chart during previous sell-offs that it would take 3 days of decline. When I saw the opening volume on Friday down from the previous 3 days I knew that the panic selling was over and loaded up before it spiked up by over $1. I'm not a trader but this was too good to not ignore having profited from these declines before over the years. I wish the company would stabilize the market for their shares - oh well I guess I'll continue to do my part to profit from these inordinate price swings.
Sentiment: Strong Buy
Boy am I glad I kept right on buying. How anyone confuses this fund with PHK beats me, and Gross's horror show, in which the "yield" has a good chunk of returned share value, not real dividends based on earnings, how anyone else confuses that PONZI scheme with something as solid as PHT beats me. Yeah PHK is up big on the greater fool theory, but PHT just keeps chugging along, and all the way to 18.74 on MERIT.