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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
My blog:
  • Equity CEFs: Opportunity In ETY 5 comments
    Apr 2, 2014 11:05 AM | about stocks: ETY

    Big seller today in the Eaton Vance Tax-Managed Diversified Equity Income fund (NYSE:ETY), currently at $11.07 down 1.1%. No reason for this as ETY's top 20 holdings are actually doing very well as I see them.

    I would be a buyer here. ETY will be close to a -10% discount after today if this holds up. The fund has been a superstar recently with excellent NAV total return performance. YTD, NAV is up 2.32%, matching the S&P 500. At a 9.1% current yield paid monthly, ETY is a strong buy.

    Disclosure: I am long ETY.

    Stocks: ETY
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Comments (5)
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  • AlanS9
    , contributor
    Comments (13) | Send Message
     
    Thanks for the recommendation, Doug. Does the "tax-managed" strategy of this fund suggest that there are better funds for an IRA?
    2 Apr, 02:30 PM Reply Like
  • galicianova
    , contributor
    Comments (1793) | Send Message
     
    Doug, do you prefer it at this point to eoi? (long eoi and JCE)
    2 Apr, 04:55 PM Reply Like
  • dc984
    , contributor
    Comments (637) | Send Message
     
    I prefer EXG/ETW for the international exposure
    3 Apr, 06:22 AM Reply Like
  • Dancing Scorpion
    , contributor
    Comments (39) | Send Message
     
    THANK YOU VERY MUCH FOR RESPONDING TO MY REQUEST FOR YOUR CURRENT TAKE ON ETY. INTERESTING.
    3 Apr, 05:23 PM Reply Like
  • caperdory
    , contributor
    Comments (150) | Send Message
     
    Mr Doug....many of the EV CEF's have narrowed the discount and have had good returns this yr...I think a mid year update would be a good idea....I'm interested in your thoughts...thanks again for you work
    18 Jun, 08:44 AM Reply Like
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