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Very dangerous closed end fund. Investors paying $5.25 per share for assets worth $4.30 per share. The long term investment balance on the balance sheet continues to drop each quarter as dividends are paid out. It falls 6-7% each quarter which indicates to me that the dividend is being supported by selling assets (dividend is around 5% per quarter). This should be a pretty easy red thumb.
Yeah, another risk with this one. It hasn't been around long either. But, since early 2010, the price has not fluctuated much. And the monthly dividend has been quite consistent. I would keep an eye on it. I'm going to bail if it gets below 5.25, keep it for long term otherwise. Be sure to invest in an IRA as a DRIP!
Closed-end stock fund selling at a substantial premium to NAV.
Div. will out perform the market this year.
At 6.85 and paying $ 0.103 per share monthly. Pretty heafty return. I'm not sure why more people don't jump on the bandwagon.
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