Move is meant to find new investors and it's possible that the discount could see a temporary reduction ...... only to suffer another reversal when they remove the ball again and the new investors fall on their fannies.
However, to look at the recent volume, the market place appears to have yawned at this latest ploy.
FWIW, liquidation of a CEF because of a huge discount from NAV is not without precedent. However, I've seen enough of this management to realize that it would never do what's most equitable and best for the outside shareholder.
Looks like they're trying to reel in a new round of suckers. With the new payout program, they say (1) "...investors ....would prefer a consistent level of cash distributions be available each month for reinvestment."
But, they also (2) say, "The Program is subject to the Board's right to suspend, modify or terminate the distributions at any time."
They've "consistently" done (2) which is the opposite what they propose in (1). And they'll do it without any forewarning. Some people have memories.
The market place has spoken and continues to do so.