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Dividend paying stocks with yields above 10% are unusual. Fortunately, there are many Closed-End Funds (CEFs) trading at a discount to net asset value (NAV) with dividends exceeding 10%.

Below is a table of CEFs with dividend payouts exceeding 10%, which trade at a discount, and have expense ratios below 2.0%:

Closed-End Fund (Ticker)

Strategy

Discount

Expense Ratio

Dividend Yield

Aberdeen Latin America (NYSEMKT:LAQ)

Emerging Markets

-9.3%

1.4%

27.3%

Eaton Vance Enh Eq Inc 2 (NYSE:EOS)

Opt Arb/Opt Strat

-10.0%

1.1%

18.1%

Morg Stan India Inv (NYSE:IIF)

Emerging Markets

-8.3%

1.3%

17.0%

Strategic Global Income (NYSE:SGL)

Global Income

-4.9%

1.2%

16.2%

BlackRock Intl Gr & Inc (NYSE:BGY)

Opt Arb/Opt Strat

-4.4%

1.1%

14.1%

BlackRock En Capital&Inc (NYSE:CII)

Opt Arb/Opt Strat

-6.8%

0.9%

13.6%

Eaton Vance TxMgdGlDvEIn (NYSE:EXG)

Opt Arb/Opt Strat

-12.3%

1.1%

13.4%

Eaton Vance T-M D-E Inc (NYSE:ETY)

Opt Arb/Opt Strat

-12.5%

1.1%

13.3%

BlackRock Gl Opps Eq (NYSE:BOE)

Opt Arb/Opt Strat

-3.0%

1.1%

13.1%

India Fund (NYSE:IFN)

Emerging Markets

-8.1%

1.3%

12.7%

AGIC Intl & Prem Str (NYSE:NAI)

Opt Arb/Opt Strat

-3.4%

1.3%

12.3%

Eaton Vance R-Mgd Eq Inc (NYSE:ETJ)

Opt Arb/Opt Strat

-13.2%

1.1%

12.3%

BlackRock Enh Eq Div Ach (NYSE:BDJ)

Opt Arb/Opt Strat

-6.9%

1.2%

11.9%

First Tr Active Div Inc (NYSE:FAV)

Global

-2.7%

1.7%

11.8%

Zweig Total Return (NYSE:ZTR)

Income & Pref Stk

-13.4%

1.1%

11.7%

Alpine Tot Dynamic Div (NYSE:AOD)

Global

-2.8%

1.5%

11.7%

BlackRock EcoSolutions (NYSE:BQR)

Sector Equity

-7.5%

1.5%

11.5%

Eaton Vance T-M B-W Opps (NYSE:ETV)

Opt Arb/Opt Strat

-11.7%

1.1%

11.4%

ING Gl Eq Div & Prem Opp (NYSE:IGD)

Opt Arb/Opt Strat

-3.7%

1.1%

11.1%

Putnam Premier Income (NYSE:PPT)

Flexible Income

-4.1%

0.9%

11.1%

Eaton Vance Tx-Mg Gl B-W (NYSE:ETW)

Opt Arb/Opt Strat

-12.3%

1.1%

11.1%

Eaton Vance T-M B-W Inc (NYSE:ETB)

Opt Arb/Opt Strat

-10.8%

1.1%

10.9%

ING Gl Adv & Prem Opp (NYSE:IGA)

Opt Arb/Opt Strat

-3.1%

1.0%

10.7%

Mexico Fund (NYSE:MXF)

Emerging Markets

-9.2%

1.5%

10.6%

Nuveen Eqty Prem Adv (NYSE:JLA)

Opt Arb/Opt Strat

-10.5%

0.9%

10.5%

Global High Income (NYSE:GHI)

Emerging Mkts Debt

-2.4%

1.5%

10.4%

Eaton Vance Enh Eq Inc (NYSE:EOI)

Opt Arb/Opt Strat

-11.8%

1.1%

10.3%

Nuveen Glbl Gvt Enh Inc (JGG)

Global Income

-9.6%

1.1%

10.2%

Nuveen Fund Advisors Inc

Opt Arb/Opt Strat

-10.3%

0.8%

10.2%

ING Risk Mgd Nat Res (NYSE:IRR)

Sector Equity

-4.2%

1.2%

10.1%

How do CEFs work? CEFs are mutual fund companies that buy and sell investments from a fixed pool of capital. Shares in CEFs are sold by current owners, often at prices that are lower than the sum of their holdings. When you buy a CEF, your investment pays expenses to the fund manager. The hope of CEF investors is that the return on their assets will exceed the fund manager’s expenses.

There is a relationship between discount and expenses that requires some thought. A fund is not cheap just because it sells at a discount. Instead, the fund must be discounted enough so that its fees are overwhelmed by its expected returns. High dividends are especially attractive in CEFs because capital returned to investors will not be subject to fees in the future.

Careful research on each fund’s holdings and management are required before investing. This list is a good launching point to determine if any of these CEFs should join top dividend stocks in your fixed-income portfolio.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 30 Closed-End Funds With Dividends Over 10%