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Douglas Albo
  • on Closed-End Funds
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Registered Investment Advisor. Prior experience includes 12-years as a Vice-President, Financial Advisor at Smith Barney and Morgan Stanley.
My company:
Capital Income Management, LLC
My blog:
  • Wow...Consider Selling IGA & IID Ahead Of Ex-Dividend Date 5 comments
    Mar 21, 2013 1:10 PM | about stocks: IGA, IID

    Virtually all of the ING funds are very overpriced here as they are all next in line to go ex-div on April 1st. IGA was one of the funds I picked as being undervalued in a February 4th article, but since then, the fund has gone straight up.

    I personally would be taking some money off the table here as IGA will probably be at a 3%-4% premium after today. Same goes for IID which has been overpriced for awhile now but somehow maintains a premium valuation despite a very average NAV performance.

    Both funds have certainly had very good NAV performances over the past year but not so good YTD.

    IGA currently at $13.63

    IID currently at $10.32

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

    Stocks: IGA, IID
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This post has 5 comments:

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  •  
    doug... thanks once again!...your opinion on igd?
    21 Mar, 05:10 PM Reply Like
  •  
    Thanks Doug,
    You have me checking SA everyday looking for your advice.
    22 Mar, 01:31 PM Reply Like
  •  
    Mr.Albo--
    Why is it that you sometimes without explanation ignore my question which in effect you openly solicit (as you do from all your readers) without reply? Not every question can be brilliant or even majestically relevant. So what. Otherwise, I think you are absolutely the "top" writing on CEFs.
    26 Mar, 05:28 AM Reply Like
  •  
    Not sure when you wrote your question but I am on spring break with my family and not really responding right now. Sorry.
    27 Mar, 07:20 PM Reply Like
  •  
    Not a problem, Albo. Your gratis advice is always welcomed here and to be cheered for its honesty and accuracy.

    My concern has been, now with the markets apparently rising to new highs, is at what market price to nimbly exit ETY and ETV. Seems a reasonable question, but perhaps a more complicated one than a librarian can manage without mentoring and a proper background in finanace.

    Anyway, you work hard and deserve all the holidays you can manage. Many thanks for the column.
    29 Mar, 09:45 PM Reply Like
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