"now that I am out again it will most likely go to 9....."
I hope you are right because I have some I'd like to sell around 9.
"What can we do as shareholders to make management close the spread?"
There is no incentive for management to do anything to close the spread. The history of closed end funds shows that most efforts to open end the funds have failed. There is not much that the average shareholder can do. You could try writing letters to management and the members of the board of directors. You could also attend the annual meetings and speak up there.
"nice bounce once the FEDS get there stuff together..."
It seems to be having a hard time breaking through the $8 mark.
"Waiting to get back in at 7.20."
Yes, the low 7's have been a good entry point. I would consider buying more if it gets there in the next few months.
I'm glad I bought some more when it hit the low 7's. It never did get into the 6's this time, but that's OK.
"$7.50---$8.00 spf today..."
Nope. You were wrong. The closing price was $7.09.
You will do better investing in an S&P index ETF with low expenses. If you own ADX you should sell it because you can do better elsewhere.
"There is something wrong fundamentally (besides interest rates)....."
It's not just SPF; Most of the homebuilder stocks are doing poorly. The main reason is the fear that increasing interest rates will slow home buying. I think that the continued high unemployment rate is a concern as well as underemployment (people finding only part time or low wage jobs).
I think there is also concern about the upcoming budget battles in Washington. These could lead to more austerity, higher taxes and inflation. I'm not saying these things will happen; I am saying that there is a lot of fear that they might happen.