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Jim Van Meerten
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Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and attended... More
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Marketocracy Capital Management
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Barchart Portfolio Blogs
  • High income plus price appreciation in a leveraged fund 0 comments
    Jul 22, 2010 3:32 PM | about stocks: ERH
    On Barchart Portfolio Blogs I bring to your attention stocks you might want to consider for your portfolio.

    I am adding the Wells Fargo Advantage Utilities and High Income Fund (NYSEMKT:ERH) formerly called the Evergreen Utility and High Income fund to the Barchart Van Meerten New High portfolio. The fund is a leveraged close-ended balanced mutual fund. The fund invests in the public equity and fixed income markets of the United States. It primarily invests in stocks of companies across all market capitalizations operating in utility sector. For the fixed income component of its portfolio it seeks to invest in non-investment grade securities. The fund invests in utilities ( 77% ), energy ( 13% ) and telecommunications ( 10 % ). The fund is leveraged 51% and pays a 9.26% dividend.

    The fund hit 14 new highs in the last 20 trading session and had a 7.34% price increase last month. It trades around 11.26 with a 50 day moving average of 10.56. Barchart's technical indicators signal an 80% short term buy and this is confirmed by a Trend Spotter (tm) buy signal.

    Wall Street analysts have an unwritten code of not giving opinions on others firms funds so there are no brokerage recommendations here.

    Investors have found this stock though and on Motley Fool the CAPS members think the stock will out perform the market by a vote of 26 to 7 and the All Stars agree 13 to 4.

    This is a nice play:

    Jim Van Meerten is an investor who writes on investing here and on Barchart Portfolio Blogs. Please leave a comment below or email JimVanMeerten@gmail.com.



    Disclosure: No position in ERH at the time of publicatio
    Themes: closed-end funds Stocks: ERH
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