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<< Return to Part l

Below is a list of five closed-end funds (CEF) that yield over 10% and are currently trading at a 9% to 12% discount to their respective net asset value (NAV):

1. Dividend and Income Fund, Inc. (NYSE:DNI) is currently trading at $3.55, an 11.47% discount to its net asset value of $4.01. The fund focuses on high income with capital appreciation through investments in income-generating equity, dividend-paying common stocks, convertible securities, preferred stocks, and as well as an options strategy. DNI offers an 11.49% annual distribution rate, with distributions occurring on a quarterly basis. It is worth noting that on September 30th, 2011, the fund increased its distribution from $0.0340 to its current distribution of $0.1020.

(Click charts to enlarge)

2. Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE:ETV) is currently trading at $12.74, an 11.47% discount to its net asset value of $14.39. The fund uses a covered call and options strategy and focuses on investments in common stocks that seek to exceed the total return performance of either the S&P 500 or the NASDAQ-1100 Index. ETV offers a 10.43% annual distribution rate, with distributions occurring on a quarterly basis.

3. Gabelli Global Multimedia Trust, Inc. (NYSE:GGT) is currently trading at $7.08, a 9.81% discount to its net asset value of $7.85. The fund focuses on long-term investments in companies that create and distribute intellectual property rights. GGT offers an 11.30% annual distribution rate, with distributions occurring on a quarterly basis.

4. BlackRock International Growth & Income Trust (NYSE:BGY) is currently trading at $7.53, a 9.39% discount to its net asset value of $8.31. The fund uses an option strategy and focuses on investments in equity securities, up to half of which are in emerging markets. BGY offers an 11.69% annual distribution rate, with distributions occurring on a quarterly basis. It is worth noting that the fund's most recent distribution of $0.2200, which occurred on March 13th, 2012, was a decrease from previous distributions of $0.3400.

5. Oxford Lane Capital Corp (NASDAQ:OXLC) is currently trading at $13.75, a 9.18% discount to its net asset value of $15.14. The fund focuses on high risk investments in senior, secured loans made to companies whose debt is unrated or rated below investment grade. OXLC offers a 16.00% annual distribution rate, with distributions occurring on a quarterly basis. It is worth noting that the fund's most recent distribution of $0.5500, which occurred on March 30th, 2012, was an increase from previous distributions of $0.5000.

Continue to Part lll

Disclaimer: The funds listed above are offered as speculation only. It is assumed that investors perform thorough research before entering any position mentioned in this publication. Information and charts from finviz.com and cefconnect.com.

Source: 24 CEFs Yielding Over 10% Trading At A Discount To NAV: Part II, 9% To 12% Discount