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.
Mizesaw I need to learn to have a better sell discipline. It is hard to teach a old dog new tricks. I do have patience to wait for a re bound. selling when my stocks cross the 20 DMA would save a lot of pain most of the time. Nice talking to you.
KYE issues a Form 1099 (as opposed to K-1s issued by MLPs). easy at tax time also. CEF connect and my brokers have different yield on payout. I think the right payout is 6.68% as of today. With this market in oil,s the payouts could drop. The fact that there a lot of pipe lines and there charging to move the product and not selling it might help it from dropping as much as some oil companies if oil craters. Today is not fun as I already hold to much in oil. Been a ruff few months.
Mizesaw check out holdings of fund ( KYE) mostly pipe lines . I am thinking about buy this one. My gut is telling me it maybe better hold long term for income and long term growth then srf long term. What do you think. It is not selling at much of discount as of today.
as of 11/1914 share price selling at 7.98% premium "not a buy for me". They have a good market maker or there,s a whole lot of fools out there
Today is 11/24/14 and the last time the company updated there website was 11/12/14. these guys are so busy losing everyone of there investors money they can not take the time to type in there nav once a week on there website. As of 11.19/14 this fund was selling at Premium of 7.98%. Anyone who pay,s this kind of premium need to buys a CD and stay out of the market.
Looks like someone did there job. The shares had a NAV as of 11/05/14 of $14.70. The open market price on the same day was $15.57. I would not be buying these shares at a premium to nav of 6.94%. I would buy if they got to a discount.