share price $6.93 How can people pay 15.69% premium. I will give them a better deal give me a million and I give you back 900k. This fund is very rigged the way the share price is jacked up and it does not trade as low as real nav value. Good time for sellers to take a tax lost and trade for a better fund and buy it at a ten percent discount and they be in the same type holdings at a value of 25% more, seems like a no bainer move.
Why would you buy a fund selling at a 13% premium when you could buy a different fund, better run with the same or much better holdings sell at a 12% discount. You would be 25% a head of the game already. This is being smarter then people who would currently purchasing SRF at this price.
Why not buy a fund with the same type of holdings selling at a discount that is better run.(peo) Petroleum & Resources ( JMF ) Nuveen Energy MLP Total Return or if you like cushing company how about ( SZC ) Cushing Renaissance Fund. I like the holdings in ( kye )Kayne Anderson Energy not sell at at discount right now. If I where to add to kye I would look to buy at a 2% to 3% discount. . If I had to buy only one and was looking at all factors aand was looking for a safe bet. PEO fund Petroleum & Resources paid out $1.89 in earnings and not ROC and has been around since 1929 and has a ten year average return of 7.46%. and it is selling at a 12% discount.with a lot of very good holdings . Exxon Mobil Corporation $127.76M 14.02%
Chevron Corp $88.68M 9.73%
Schlumberger NV $56.95M 6.25%
Halliburton Company $39.41M 4.33%
Occidental Petroleum Corporation $38.94M 4.27%
LyondellBasell Industries NV $38.47M 4.22%
EOG Resources $35.45M 3.89%
Phillips 66 $35.07M 3.85%
Dow Chemical Co $28.71M 3.15%
Anadarko Petroleum Corp $27.90M 3.06%
Noble Energy Inc $25.53M 2.80%
still selling at a big premium . closed today at $7.76 a share about a 13% premium . How can people be so dumb to pay such a premium. This stock seems to be controlled by the market maker something is weird going on with the price. One thing that is clear is anyone who was sold this a few months ago during the secondary got screwed
The nav maybe close to share price at this point after todays run up in line and bbep after hours. It would be nice if they had nav updated daily. I saw nav price of $7.17 (01/02/15) before line started to take off so It could be time to start buying. I would like to buy at about a six percent discount but may not get there. Another cushing fund SZC trades at a big discount maybe some thing to check out. I have never bought any SZC. I did buy JMF AND KYE but did not get enough of them before they took off.
Mizesaw you can get net asset value on bloomberg market with a quote of xsrfx They have it way before cushing,s web site ever post it. As of today a 3:00pm et time cushing have not updated there web site since 12/17/14 or 12 days. They are run very poorly , but we can still make money if we time it right.
The positions in this fund have dropped further since dec 24th. If you use the close of $8.37 and net asset value of $7.39 people are paying 11.5% Premium for the fund and holdings keep dropping. It should be trading in the$6 and change range if not lower
I have been out of town. I see not much has changed with people paying more then it is worth. I feel for the retail dummy who,s broker put them in this at $20.25 six months ago. I had real small position and I sold it @$10.52 on 12/15/14 for a seven dollar lost. I will make some purchases of this fund if it ever trades at a bit of discount. In dec 2012 paid $19.85 a share and sold out everything about 40 days later at $21.72 a share on jan 30 2013. This is hammer when I look back at my sale on 1/30/13 @ $21.72 and the current price should be some where around $7.00 a share. What some retail buyers who bought in to the secondary at the top do not realize it what is going to happen to the share price when the holding cut there payouts to fund. They will be only getting there own money back with ROC and think what a great dividend.
The shorts should cover now and use any profits they still have to go long and they will be up a boat load in a year from now. This was up to almost $25 a share before oil took a dump and when oil rebounds they will have a lot more barrels of oil to sell . Over the years oil always has it swings and this time will be no different. Please try to bring it down some more I am not done loading the truck.
net asset value is $7.70 as of 12/18/14 and market price was $9.04 this is a 17.40% premium. please give me a dollar and I will give you back 83 cents. people paid $10 to get the 50 cent dividend on 12 15/14 and now they have a $7.70 net asset. . where do they finf these people.
That 50 cent dividend will cost you a dollar or more. The only way you do not get hurt after the dividend is oil breaks out to the up side . After ex date the net asset value will be $8.40 unless all the stocks in the fund rebound . Anything can happen. if oil keeps dropping the best day to add to fund will be to see where it trading at on last trading day of the year after all the retail money has taken there huge year end losses.
Net asset value is $8.90 as of 12/11/14 and it has not even gone ex dividend yet. The ex date is 12/16/14. If oil keeps crashing and year end tax selling keeps putting on the pressure this could still drop a lot more. after 50 cent drop from dividend and give it a 6% discount and will be in the $7.00 range. I bought a very small starter position and think I will sell it before I have a loss on it. With the net asset value being what it is I should be at a loss but this stock is very weird the way it seems to be controlled by market maker. Also the fact that they do not update the nav on there website as of today 12/14/14 it was last updated on 12/03/14 . That is eleven days and they charge a big fee to manage the fund. this fund has lost over 39% in net asset value in the last 30 days and the guys running the fund can no even keep there web site up to date. Any broker who talked there customer into buying this should be fired . They seem to be poorly run fund. The john hancock closed end funds I buy and sell update every night.
With the price drop today (52 cents) it will take 12 years of that 1 cent increase in the dividend to make up what we lost today. With oil prices down I do not see the stock headed up much due to investments in the oil field services . Higher oil price will help sell more new airplanes that save fuel and use GE engines also.
Mizesaw did you see bbep this morning down 12%. I do not own any but I am feeling it with my other oil stocks and drillers I already own. ouch!
It looks to be headed that way. current price 12/05/14 12:33 pm ET is $10.76 down $1.01 so far today. got to 11 bucks even faster then I thought it would. On 01/30/2013 I sold at $21.72.That was a good one but I have still lost a ton in oil stocks this year.