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   Non-TechCEF Closed End Fund Investing


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From: shadetreethinker4/23/2012 11:50:04 PM
   of 57
 
Portfolio of a Roller Coaster Rider

Preferreds: 55.5%

CEFs: 44.0%

Cash: 0.5%

Sleepfactor: excellent

Excitement: priceless

STT

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To: KEN2CWL who wrote (5)4/24/2012 11:49:16 PM
From: shadetreethinker
1 Recommendation   of 57
 
Ken,

One of my top 5 CEF holdings.

Alliance Bernstein Global High Income Fund. (AWF). inception date July 1993, team managed. A 1.3 billion bond fund invested in 52 countries. (62% in US) expense 1.01 .10 monthly dividend. current yield 7.96%currently trading at a 3% premium but does dip into discount territory.

Average coupon 8.5%, Average maturity 7.75 years. 76% rated B, BB, BBB. leverage is 9%

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To: shadetreethinker who wrote (12)4/25/2012 12:45:16 PM
From: KEN2CWL
   of 57
 
I am going to start tracking it on a watch list and if it pulls back during a time I have excess cash i will probably jump in. Thanks for the heads up. Looks pretty good. I wish the average maturity was a little shorter but you can't have everything. Ken

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From: CusterInvestor4/26/2012 10:29:16 PM
   of 57
 
ETG
Any opinion on this one? Costs seem high, moderate leverage, but has been consistent.

A. Eaton Vance Tax-Advantaged Global Dividend Income Fund

B. Symbol ETG: $14.35

C. Symbol XETGX: Net Asset Value, April 26th: $15.02

D. 4.66% Discount to Net Asset Value

E. 10.3-cents per month; $1.236 annual dividend

F. 8.6% Annual Dividend Yield

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To: CusterInvestor who wrote (14)4/26/2012 11:18:10 PM
From: drpiranha
   of 57
 
Custer,

In checking it out, I saw that one of their strategies is Dividend Capture and I don't particularly like that strategy. For my foreign exposure, I'm using PKO (multi sector), DEX (global growth and inc), and AWF (emerging mkts inc)

Milt

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To: CusterInvestor who wrote (14)4/26/2012 11:30:13 PM
From: LTBH
   of 57
 
ETG expenses 1.64%; FFC expenses 1.64% ... not sure why you consider its expenses are high. Believe purchases when in 6% discount area present better entry if you can wait for the dips.

I like ETG's current holdings but am not crazy about the frequent turnover of almost 100%.

Depending on what type fund and holdings you desire, also might wish to check out EHI.

I hold full positions in EHI, FFC and am establishing one in ETG ... currently at 25% position in ETG.

Disclaimer in that I am no expert ... just a guy trying to establish a growing income stream.

Luck
LTBH

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From: shadetreethinker4/27/2012 2:45:55 PM
   of 57
 
Interesting article at morningstar

news.morningstar.com

While it deals with leverage transparency by fund families. It also makes the point that choosing a CEF is more than just its distribution rate and if it is trading at a discount or premium. Most important is if the CEF is suitable to your portfolio and risk profile.

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From: orchid254/30/2012 9:22:23 PM
1 Recommendation   of 57
 
Bought PFN today.

Pimco Closed End Fund, less than 2% Premium which is not bad for a Pimco fund.

Distribution rate approx 7.8%, paid monthly. I like monthly payers. Helps me eat daily.

Earning 8 and 7/8 cents, paying out 6.5 cents, UNII positive at over 23 cents, no ROC.

Looks interesting so I bought some.

FWIW

Orchid

Distribution History
Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.
Display History



to



GO

Declared
DatePayable
DateEx
DateDistrib
AmountIncomeLong
GainShort
Gain ROC
4/2/20125/1/20124/10/2012$0.0650$0.065000
3/1/20123/19/20123/8/2012$0.0650$0.065000
2/1/20123/1/20122/9/2012$0.0650$0.065000
1/3/20122/1/20121/11/2012$0.0650$0.065000
12/1/20111/3/201212/8/2011$0.0650$0.065000
11/1/201112/1/201111/9/2011$0.0650$0.065000
10/3/201111/1/201110/11/2011$0.0650$0.065000
9/1/201110/3/20119/8/2011$0.0650$0.065000
8/1/20119/1/20118/9/2011$0.0650$0.065000
7/1/20118/1/20117/7/2011$0.0650$0.065000
6/1/20117/1/20116/9/2011$0.0650$0.065000
5/2/20116/1/20115/10/2011$0.0650$0.065000


Key Information Regarding Distributions
Avg. Earnings Per Share:
(As of 1/31/2012)
$0.0878
Annualized Distribution Rate on NAV:
(As of 4/27/2012)
7.92%
Total Return on NAV (12 months):
(As of 4/27/2012)
3.70%
Avg. UNII Per Share:
(As of 1/31/2012)
$0.2374
Avg. Portfolio Coupon:
(As of 4/27/2012)
8.33%
Total % Portfolio Leveraged:
(As of 4/27/2012)
29.19%



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From: Kapusta Kid5/6/2012 2:55:47 PM
2 Recommendations   of 57
 
Douglas Albo occasionally posts articles on Seeking Alpha re CEFs. The comments of 'GlobalTrekker' on CEFs are also worth reading. Also, Albo, Greg Group and 'The Simple Accountant' have all written useful articles on the general topic of distributions vs. income and on a CEF's Return of Capital.

I don't think anyone should invest in CEFs, particularly equity CEFs which use options, without first having a solid understanding of Return of Capital and how it might or might not affect a fund's NAV.


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From: brehm2335/14/2012 5:39:07 PM
   of 57
 
Any thoughts on GGN?

I own a few shares, not sure why, except for the distributions. Seems S/A articles like it. Per cef, its not covering distributions, and trades at a premium.

GAMCO Gold & Natural Resources

Another gold related company getting cheaper by the day is Gamco Gold & Natural Resources Income Trust. GGN is a closed end fund which utilizes a covered call strategy on the majority of its portfolio holdings. This strategy generally consists of writing "out of the money call options" for each of the assets owned in the portfolio. The premiums that are collected contribute to the monthly distributions made by GGN.

This particular play on gold, precious metals, commodities, and energy offers an incredible yield of over 11% paid monthly. The payout history is very consistent and stable. GGN also offers a dividend reinvestment plan (DRIP) which allows an investor to purchase shares at a discount to market price under certain conditions.

As of the end of last year the portfolio of GGN included 45% in stocks and fixed income securities of gold and other precious metals mining companies, 43% in stocks and fixed income securities of energy companies, and 12% in stocks and fixed income securities of base metal and other commodity companies.

The current net asset value of GGN is 13.31. It is currently trading at around 14.60. This represents a 10% premium over net asset value. GGN regularly trades at a premium to NAV. I am a bit concerned with the shrinking NAV, but If they can keep leverage down I am comfortable with holding this CEF for the foreseeable future to reap the large monthly payouts.

seekingalpha.com

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