Some of the CEFs that hold MLPs have reduced their leverage levels. With the huge declines in their industry specific group (always potentially dangerous) they've had some forced selling to keep their leverage ratios in line, which increases the decline in their NAVs.
Can happen in any 'focused' CEF. Actually makes them like a mutual funds in that respect with forced selling. Many CEFs had this situation in the 2008 - 2009 time frame.
I agree. CAPEX cuts since the beginning of 2015 are finally having an affect on production. Had a sense of that after the report a week ago.
NG draw today way more than expected. I think the lowered CAPEX artes since the beginning of 2015 are finally sinking in.
Kel.................an SWN holder (bought yesterday @ 6.87) been here before...
I think slowing production is FINALLY putting a dent in inventories. Reduced CAPEX levels since the beginning of 2015 had to have an effect sooner or later. We might be at that point.
Kel...................an SWN holder
Took a quick look. Couldn't hook up with the website, so I went to CEF Connect. A few Nuveen "similars" are NBB and NBD. GBAB looks better though. Better yield and div record. Excellent portfolio credit ratings.
I remember looking at some of these a few years ago. Not sure, but I think some have a liquidation date. Are you current on that point? Nice place to drop a little cash into as a MM substitute. Thanks for reminding me about these.
Buy natgas?? I bought some SWN yesterday. A driller (almost 100% natgas) that will survive. Many others won't.
SFY was delisted a few weeks ago and then declared BK on Dec 31. Symbol had a 'W' added after being delisted to (SFYW). Now changed again.
That's the reason it's now in the $6s, because of that purchase, among notable obvious things. So, let's move on from that.
Make a deal w/ someone on this board. I'm sure someone would be willing to sell you shares at say $20 under the table. Yeah, come on, step up to the table.
The DIP $ is almost spent already. Still burning cash every day. Will be under 10 cents BEFORE the giant R / S happens. I think the current 14 cents is a steal for holders to sell at (I'm not one since July). No way there'll be that much left after the dust settles.
Just my opinion..................Kel
Pa ....You still holding any Swift Energy? My last trade of that was back in July. Wonder how it'll be when the bankruptcy is settled. Less debt and many new shares I think.
Right now, no energy or BDC stocks. Much cash though.