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I have started something similar to your screens--see below
I would like to throw this out there to anyone interested that might have the resources to have some back testing capabilities. I have often read about studies indicating owning CEF's with discounts being a good strategy for total return etc.
So back in late June of this year I set up the criterion listed below and started screening in cefconnect.com--the plan was to screen weekly or monthly, or both, and stay invested in the top five funds that continue to meet the criterion. My problem is I have no back testing capabilities to gain confidence in the model or know to abandon it ASAP--LOL. It would be super interesting to know the record on this simple procedure over say the last 15-25 years or thereabouts.
Anyway the screening criterion is as follows:
I started by running the screen based on Fridays closing numbers--eg. weekly. Select the top 5 funds with the largest discounts to NAV that also pay a monthly dividend greater than xx% per annum. ( I arbitrarily set it at 7% when I started)
Buy equal monetary amounts of each of the five and stay invested until one or more drops out of the top 5--sell the drop outs at the open on the following Monday and replace them at the same time with the funds that took there place in the top 5 list.
CEF Closed End Fund Investing | Stock Discussion ForumsShare
NEW YORK, Dec. 03, 2021 (GLOBE NEWSWIRE) -- The Board of Trustees of the PIMCO Dynamic Income Opportunities Fund (“Fund”) has declared a special year-end distribution for its common shares as summarized below. The distribution is payable on December 21, 2021 to shareholders of record on December 14, 2021, with an ex-dividend date of December 13, 2021. In addition to the regular monthly dividend, this special year-end distribution is being paid to allow the Fund to meet its 2021 distribution requirements for federal excise tax purposes. The Fund’s total distribution will be taxable to shareholders in 2021.