CNBC is running this absurd message on its pre-market ticker. I have never seen a take over story shrouded in so much ambiguity. How can a company approach another one with no price? Why are investors being left in the dark? I'm sure Pershing knows the details
They wiped out NCZ premium before it finally bottomed. PHK is still sitting at 40% over NAV even after precipitous sell off. The math is painful to compute as market seems determined to eliminate premiums in leveraged CEF's. If you're bottom fishing better bet is NCZ where the carnage is over.
anyone who's been in this for awhile has seen these 6% down days. Just keep reinvesting your monthly payout and try not to think about share price.
If you can't handle it buy an income-only annuity with no death benefit. But PHK is a much better value for your money