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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.
My company:
Capital Income Management, LLC
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  • Stepping Back Into GRX 3 comments
    May 31, 2013 12:13 PM | about stocks: GRX

    This is how this game is played. GRX spiked up to $11.60 on May 20th when I put out a "take profits" notice. Today, May 31st, GRX has spiked down to $10.50 (currently $10.62).

    Realize that there is very little news that should be accounting for this other than a rights offering. I'm not sure what impact the rights offering may be having but it certainly should have NO effect on the fund's NAV which has only dropped from $11.50 to $11.44 in the same period of time.

    With GRX back to a roughly -7% discount if this drop holds and one of the best NAV total return performances of any CEF, up 20.8% YTD, I'm stepping back into GRX.

    Disclosure: I am long GRX.

    Stocks: GRX
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Comments (3)
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  • tom007
    , contributor
    Comments (91) | Send Message
     
    Thanks for the heads up D.
    1 Jun 2013, 12:10 PM Reply Like
  • dc984
    , contributor
    Comments (637) | Send Message
     
    Any thoughts on GGN and GNT? Are the 12% yields sustainable?
    1 Jun 2013, 12:15 PM Reply Like
  • caperdory
    , contributor
    Comments (170) | Send Message
     
    Is this volatility typical....down 3.3% in one day?
    1 Jun 2013, 01:21 PM Reply Like
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