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Douglas Albo
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Registered Investment Advisor. Prior experience includes 12-years as a Vice-President, Financial Advisor at Smith Barney and Morgan Stanley.
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Capital Income Management, LLC
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  • Take Profits In GRX 7 comments
    May 20, 2013 3:57 PM | about stocks: GRX

    The Gabelli Healthcare & WellnessRX fund (NYSE:GRX) is up huge today (huge for a CEF anyway) on a forced buy-in perhaps?

    Anyway, I would be taking profits here with the fund up 6% at almost $11.50 roughly. GRX could be at a premium after today!

    Another crazy move in equity CEFs!

    Disclosure: I am long GRX.

    Stocks: GRX
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Comments (7)
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  • Wnf0810
    , contributor
    Comments (4) | Send Message
     
    Nice call. Wish I had this yest.
    21 May 2013, 04:25 PM Reply Like
  • Douglas Albo
    , contributor
    Comments (659) | Send Message
     
    Author’s reply » GRX is an excellent trading CEF due to its small size and low # of shares traded daily. We saw a 10% swing (+6% yesterday for awhile and -4% this morning) in market price over the last two days even though its NAV will be virtually unchanged over the same time period!

     

    GRX is up 21.5% on its NAV YTD, one of the best of any CEF. This is a fund you want to stay long in this market environment but you can certainly trade around at times too!
    21 May 2013, 05:34 PM Reply Like
  • Thomas Lott
    , contributor
    Comments (615) | Send Message
     
    Thanks, when it pulls back, tell me when to buy it!
    21 May 2013, 11:04 PM Reply Like
  • Bob_B
    , contributor
    Comments (47) | Send Message
     
    Hmmm.. the market price was driven up near the NAV a day before they announced a new rights offering. It's just a coincidence, of course!
    22 May 2013, 05:47 PM Reply Like
  • Dancing Scorpion
    , contributor
    Comments (40) | Send Message
     
    May 22, 2013
    Tucson

     

    Mr. Albo, you've always liked ETV and with good reason. My questions are:

     

    (1) How worthy (problematic) would ETV be as a two or three year investment?

     

    (2) What would be the likely historical story regarding dividends and market price of CEF funds, like ETV, going forward?

     

    (3) Are typical Eaton Vance or Nuveen CEFs any more dangerous than equities as a holding? Ben Graham liked them at the "right price;" but what say you.

     

    Many thanks for the great column and continued interaction with an online constituency.

     

    Peter J. Andros
    pandros042@gmail.com
    22 May 2013, 06:20 PM Reply Like
  • Dancing Scorpion
    , contributor
    Comments (40) | Send Message
     
    Mr. Albo:

     

    Still waiting for a reply regarding my questions, problematic as they may be.

     

    Thank you.
    1 Jun 2013, 12:22 PM Reply Like
  • Douglas Albo
    , contributor
    Comments (659) | Send Message
     
    Author’s reply » Sorry, but I get a lot of questions from readers who are looking for what amounts to free advice. The problem is that I have paying clients who are my primary responsibility and I barely have enough time for them. That being said, I think the more the market is unsettled, the more attractive ETV becomes.
    1 Jun 2013, 02:04 PM Reply Like
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