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Kingdom Of The Worm

|Includes:BQR, DNI, JDD, LTS, Oxford Lane Capital (OXLC)

No brief whining on my part of how my life's going? What? What's wrong with you User?

I'm in a good mood! Currently, I just got off of work on the last day of my seven day rotation and have the week off. And Sunday is the day when the hospital switches over to a new computer system and they "go live". In honor of the event that I've been hearing about for months and forced training and with suck-ups volunteering to be super users and the bosses with nervous-glass smiles and such, I decided to print out a picture (you can guess which one) from this google-search:

and taped it to the front of our unit's help manual. I like it better than the cartoon guy hitting the computer.

(NASDAQ:OXLC) - bought a good size chunk of oxlco again last time. Now they're offering oxlcn - 2024 mandatory redeemable monthly pay with 8.12% yield on the par price. Should start trading over the counter next week before I get paid. If I can pick it up a bit under par, say for 24.5 or under, I'll take it.

Or if some folks sell off oxlco because they want the higher yield on the new one and the price drops a bit, I may pick up more of that.

LTS.A - wrote about last time. Close to 9% monthly payer. And I'm seeing the underlying company's name on more of the new issue preferreds that are coming to market.

(NYSE:JDD) - wrote about it last time and cannot be bothered to even copy/paste again. Revised MA charts:

Don't know. May have been one of those too early to sell and too late to buy situations.

(NYSE:DNI) - same deal as above. Revised charts:

Even worse than last time I wrote about it - market price is outrunning the nav. My priority is on distribution sustainability first and then the nav going up and the market price lagging when I want to buy something. My reasoning for this is that if I'm wrong, I want to get paid something (yield, distributions) to wait and I want to buy something when it's underpriced.

(NYSE:PGZ) - something I wrote in the comment section last time. Revised charts:

As you can see, the market price has jumped. Which irritates me. As it no longer even shows up on my standard screen.

And there aren't that many funds that I don't own that meet my current screen criteria and have a moving average to the upside. Or haven't recently sold for a profit. This is kind of worrisome and why I listed the preferreds first. If sentiment changes against various classes of cefs, the preferreds may be nominally safer.

But, one I found. Hippy shit! (NYSE:BQR):

8.5% market dist rate. Quarterly. 10.5% discount.

Archer's-Daniel and Monsanto and Tyson are listed as amongst their top-ten holdings:

so maybe not as hippy as I first feared. Food is important. Water is and will be more important over the long haul. Both the semi-annual and annual reports are from last fall, so aren't' much good to me. What I can do is evaluate the nav of the fund and see it's turning around. And I like how the market price dropped today based on no news I can find.

So. I am uneasy with how many, if not most, cefs have risen over the last few months. I'd like to buy into oxlcn for a first pick. (BQR) as a second. LTS.A as a third. Oxlco as a back-up option for a 1980's cd equivalent.

As always, anything I buy will immediately drop in value. Anything I sell or pass on will increase.

Best wishes!