PHK pays $0.1219/share every month. That works out to over a 19% NAV yield based on a $7.68 NAV. Tell me, how long do you think a fund's NAV can last paying out over 19% annually? To make matters worse, you don't even get that 19% yield that it pays! Whether this is the big one or not, eventually PHK's market price collapses to its NAV or worse. It's only a matter of time.