First Trust Value Line Fund (AMEX:FVL)
Closed-end diversified management investment co
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Fund uses Value Line's Top 100 stocks. Fund voted to change Buy/Sell of up and down stocks plus rebalancing from a monthly to a quarterly basis and eliminated the 10% discount, which probably will reduce the timliness of the fund. This will reduce Short and Long Term Capital Gains payout but the fund still has strong upward potential.
Recs
FVL, which pays a current dividend of 11.5%, is changing from a close end to a exchange traded fund. Daily volume is up about 5x and stock has risen about 10% since this decision was announced. This change should boost acquisition of the stock over the near term.
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