I believe NAV is more like 3.46.
Any spike and I'm out.
All they've done is make a good living for themselves and Bad investments despite good areas OF investment.
A Dartboard poertfolio in metals/ag/oil would have dome better.
In business with wind at it's back, and with large gold holdings, Sprott has done Nothing anyway.
The resource idea was correct but these guys are Massively Incompetent at execution.
There's been alot of indication congress will cap the amount of tax free interest one can receive. This hurt Munis last year for a time.
Many want to cap deductions, including the tax-free part of int/divs to something lijke 30k.
These stocks, Like Munis, are owned by rich individuals.
Meeet to make a deal on Taxes.
Cutting/CAPPING deductions that help of some types to zero or none and also say that the very tax free structure of MLPs and/or REITS is illegal?
That'/s what has these things down IMO.
Rates are down.. Utilities are up.
MLPs in good degree ARE Pipeline utilities.
More supply of Utility stock doesn't make utiliities rise. Lower interest rates on the 10 yr bond did. Try a savings account. Stocks aren't your thing.
Most MLPs are Not refiners. It's about Loss of Tax-free status.
Yesterday AND Today Utilities were up while MLPs were down significantly
Higher interest rates is just One problem.
Another is Loss of tax break for Both the companies and shareholders as congress considers cutting/capping deductions for high incomers and companies..
Many/Most MLP CEFs trade at small premium.
The esteemed KYN is at a 10% Premium with 4.4% Fees!
I am long FEI and buying more at a 3+% Disct now
AMLP is up half a percent and FEI down same