Highest Positive Spread: Morgan Stanley China "A" Share Fund
Focus Stock: Alpine Global Dynamic Dividend
Last Week's Focus Stock: Templeton Emerging Markets Fund
Equity Added Bulk: The S&P 500 equity closed above 1500 for the first time in five years. The S&P 500's YTD price gain was 5.4% for January 25; CEF's GenEqFnds rose 7.2%. S&P 500's prices ended up +1.1% for the week ending 1/25/13. Bond prices have snapped back from declining -0.2% from the previous week.
CEF Weekly Fund Type Performance: GenEqFnds are up 1.4% from the previous week with OtherFnds up +1.0%. The InvGrdBndFnds, ConvtSecFnds, SpecEqFnds and LoanPartFnds were up 0.8%. Average InvGrdBndFnds, NatlMuniBndFnds, SingleStMuniFnds and USMrtgBndFnds rose while the NAV declined. Both USMrtgBndFnds had a steep loss of -0.2%. GrowthIncome CEF's average was +0.6% for the previous week.
Gold Down: Gold was down -1.5%, real estate a +0.3% and copper was down price -0.8%. Prices for CEFs were up +0.5% for the week.
Highest Focus Stock for the Week: Morgan Stanley China "A" Share Fund (CAF) was ahead by a price increase of +3.6% and NAV per share declined -1.4%. The PrcNAVSprd was +5.0% (positive number may be a decline for CEFs). CAF has $519 million. The shares are at a premium of 11.8% and the dividend is none. While I'm encouraged by the China's economy, the shares are changing the NAV per share. The share prices may change if the NAV per shares ultimately rise in the interim. You might find an ETF iShares FTSE China 25 Index (FXI) which has a share price of 0.41% premium to NAV. The yield is 2.27% and the trading value is 13 million.
Lowest Spread and Focus Stock for the Week: Alpine Global Dynamic Dividend (AGD) share price declined -13.3% and its price was a negative -0.6% from its NAV per share; its PrcNAVSprd decline was -12.2%. The distribution was cut from a $0.06 per month to $0.03 per month and is yielding 7.4%. I'm a skeptic regarding the "pay as you go" distribution strategy. I would be willing to pick this up at a modest discount for a short period of time.
Last Week's Focus Stock: Last week we had Templeton Emerging Markets (EMF). The stock was up 0.7% last week in a world of WrldEqFnds up 0.3%Disclosure:
I am long CAF, FXI, PCEF. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.