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Voya Global Equity Dividend and Premium Opportunity Fund (IGD)

NYSE - Nasdaq Real Time Price. Currency in USD
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5.85+0.06 (+1.04%)
At close: 4:00PM EDT
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  • P
    Polina
    Tender offering expire on May 25. Is that mean IGD will stop trading same way as IID after May 25? Is anyone who will not accept offer will loose all left shares?
  • S
    Steve
    So how is a tender offer on a CLOSED end fund even possible? I'm almost certain a CEF cannot issue more shares, so why is the opposite possible? Where is this money coming from? Why not just using it to increase the dividend? They have had no problem cutting div from .10 to .04 over 10 years!
    I have someone far smart than I working on this. I'll post any info I can obtain.
  • d
    dviii
    Buying back 15% at 98% of NAV. Why would I do this when I can sell at 100%? I don't understand tender offers, anyone care to explain? (my cost basis is much higher than current price)
  • o
    ollie
    IID was a fund liquidation and termination, whereas IGD is a voluntary tender offer. There will be no change for those who keep their shares.
    Neutral
  • o
    ollie
    CLM, another closed-end fund I own, is in the midst of a Rights Offering expiring May 14, in which each 3 Rights (1 issued for each share owned) entitle the holder to purchase 1 additional share at a price to be determined after Market Close on May 14, to an aggregate total of 26.5m new shares. They've been doing this for years.

    NHF, another I own, recently closed on an offer to exchange shares + cash for a new class of Preferred Shares, ostensibly because it was trading at a steep discount of <40%> (it was). So, apparently, creative CEF's Can find ways to issue new shares for additional capital.

    Posted IGD Return of Capital (ROC) from Oct 2019 to Apr 2021 has been 94%, Monthly, making the posted yield of 8%(+) more like 8% x (100-94)% = 0.5%.

    So 98% of NAV is a decent offer, especially considering that IGD has traded at a discount for years. Luck!
    Neutral
  • R
    Robert
    They sold microsoft position, wrong move
  • s
    sherri wasserman
    interesting how this stock price is going down
  • C
    Cool Hand
    When you pay $20 and it’s at $6.40 the people in place must be eating to many free lunches. Let’s see their pay and bonuses, and I’ll get that report and post it. I’m not making anything. 5 years? Where my capital I paid at the offering. They sang a similar song then too.
  • R
    Russell
    Does anyone know why the big drop yesterday on huge volume.
  • l
    lo roller
    Igd paid the last distribution out of 100% return of capital. That's my money payed back to me Disturbing news Where they going to get money out of profits to pay?
  • C
    Cool Hand
    The Fund will maintain its current investment objective of seeking to provide a high level of income with capital appreciation as a secondary investment objective. The Fund will continue to pursue an option overlay strategy in the same manner as the current strategy.

    This hasn’t done anything! to provide a high level of income with capital appreciation

    When will they get the share price up to what I paid for it?
  • D
    Dave
    Good to see the the 14% discount from net asset value and the monthly distribution of 9.7% amortized over a year. Great portfolio to use for option profits: Microsoft Corp ORD 4.04%
    Johnson & Johnson ORD 1.53%
    Procter & Gamble Co ORD 1.26%
    Pfizer Inc ORD 1.21%
    Verizon Communications Inc ORD 1.21%
    Roche Holding AG Par 1.16%
    Goldman Sachs FS Government Fund;Institutional 1.13%
    Merck & Co Inc ORD 1.12%
    PepsiCo Inc ORD 1.10%
    Cisco Systems Inc ORD
  • l
    lo roller
    Igd , hang on or sell? I liked this income fund. IT is not for quick money. It is for income. Todays market is caving in and taking no prisoners . Look to sell all you own as this may be or is the start of a 15% correction.
  • D
    Doug
    Why does Yahoo report book price per share and not NAV? Where can I find the NAV?
  • C
    Cool Hand
    Maybe we need to send the board members a snap shot of the funds price from 5 years ago because nothings changed!!!! Do they even look at their own charts?
  • C
    CrushedBlueToad
    In the last year up to today, IGD stock went from $6.54 to 4.70, a drop of 28%However, when I look at their top ten holdings as per the annual report received today by email, I see over the past year to day the following moves:Microsoft: 128 to 177 (+38%)J&J: 138 to 147 (+6.5%)Roche: 33 to 45 (+36%)AT&T: 32 to 28 (-12.5%)P&G: 107 to 114 (+6%)Merck: 78 to 78 (--)Pepsi: 130 to 133 (+2.3%)AbbVie: 79 to 89 (+12.6%Philip Morris: 86 to 69 (-20%)Intel: 45 to 57 (+27%)These top ten holdings amount to 12.2% of all holdings. The great majority of these 10 went up tremendously. Yet the stock is liquidating itself via returns to capital. Either the remaining 87.8% of the holdings are total #$%$, or the writer below who inferred that top management is skimming is absolutely correct.
  • D
    Dave
    13 percent discount from NAV
  • l
    lee
    My basis in IGD is $4.19. I've had this stock for 8.5 years. It has provided good income all that time and now appears to be ticking upwards w/improving economy. Buy the dips, sell the peaks but maintain a core.
  • J
    Jane
    Many advisors are suggesting that global equities will soon outshine those of the U.S.
  • C
    Cool Hand
    IGD - I am accumulating because it trades discount to NAV. The shares have been beat down since offering due to Global sentiment. That will eventually change. There is no recession and the U.S. economy is strong yet still fragile, yet earnings have been positive. Amazon, Jabil, and many others have beat estimates. Compound interest is your friend at 11% plus. This is a great time to build up the numbers ahead of movement.